Yes, it is twelve o'clock now.  But do you agree with me that the word “o'clock" is hieroglyphic like a Chinese character？In the language class，I explained it to the kids as the following: 

The first letter "o”  looks like the round face of the clock；The second symbol ‘  of the o‘clock is one of the scale points around the edge of the time-instrument;   Certainly clock is  the machine that tells the time of a day. 

The phrase o'clock is translated as ’点钟‘ in Chinese： 点（dian）means ’point‘;  钟（zhong） is clock.  That is what the clock is pointing to. 

As you see，I think the English version o'clock is more vivid than the Chinese one on this occasion.

(It is always funny to consider the same thing from different angles.  Thanks for your sharing.)