[PDF] The Co Movement Of Stock Markets In East Asia eBook

Author : Nancy Huyghebaert
Publisher :
Page : pages
File Size : 13,26 MB
Release : 2013
Category :
ISBN :

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This paper examines the integration and causality of interdependencies among seven major East Asian stock exchanges before, during, and after the 1997-1998 Asian financial crisis. For this purpose, we use daily stock market data from July 1, 1992 to June 30, 2003 in local currency as well as US dollar terms. The data reveal that the relationships among East Asian stock markets are time varying. While stock market interactions are limited before the Asian financial crisis, we find that Hong Kong and Singapore respond significantly to shocks in most other East Asian markets, including Shanghai and Shenzhen, during this crisis. After the crisis, shocks in Hong Kong and Singapore largely affect other East Asian stock markets, except for those in Mainland China. Finally, considering the role of the USA shows that it strongly influences stock returns in East Asia - except for Mainland China - in all periods, while the reverse does not hold true.

Author : Ky Cao
Publisher : Routledge
Page : 495 pages
File Size : 47,47 MB
Release : 1995-11-16
Category : Business & Economics
ISBN : 1134806159

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In recent years much attention has been given to the unparalleled economic development of East Asia. In The Changing Capital Markets of East Asia the contributors look at the growing sophistication of capital markets in this area and discuss the possible economic and political consequences. The theme of the book is more strategic than technical and

Author : Herald van der Linde
Publisher : Marshall Cavendish International Asia Pte Ltd
Page : 274 pages
File Size : 49,52 MB
Release : 2021-10-15
Category : Business & Economics
ISBN : 9815009524

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A summary of how stock markets work for those looking to invest. This book is a practical guide to Asia’s stock markets for a general audience. It is for people who do not know much about financial markets but, for whatever reason, would like to learn more. They could be seasoned expatriate pilots, academics and other professionals, newcomers in the region as well as students or young men and women about to start in the finance industry. The idea is to cut through the alphabet soup of industry jargon to provide a clear understanding of how these markets work, how they differ from each other in size and depth, what unique features each stock market has and what drives all the different sectors in these markets – consumers, the internet, banks and technology. The book includes helpful history lessons and personal anecdotes drawn from the author’s 30 years in the world of Asian investments.

Author : Pongsak Hoontrakul
Publisher :
Page : 22 pages
File Size : 28,82 MB
Release : 2002
Category :
ISBN :

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This paper utilizes two different approaches to examine whether there is a contagion among South East Asian economies. According to the cross-market correlation analysis, there is a contagion between Thailand, Indonesia and Philippines and market co-movements which simply cannot be explained by the fundamental linkages between these economies. A contagion is also detected by the cointegration analysis. The long-run relationship among South East Asian countries and Japan significantly changed after July 1997. Both impulse response analysis and variance decomposition confirm the changes in market co-movements. The findings suggest that multinational investment managers may need to re-design their strategies for South East Asia consistent with Tang's advise [2001]. A quick move by IMF approving Philippines' request for an extension of its Extended Fund Facility (EFF), Chieng Mei initiative on foreign exchanged swapped and others proposed by Chaipravat and Bhanich Supapol [2000] under ASEAN commission and massive financial packages to Thailand and Indonesia are among justifiable measures supported by our empirical evidence.

Author : Searat Ali
Publisher : LAP Lambert Academic Publishing
Page : 132 pages
File Size : 36,85 MB
Release : 2012
Category : Financial crises
ISBN : 9783847373186

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Increased globalization among economies of the world and crisis events has brought amplified interest of academics and investors to the subject of co-movement among the stock markets of the globe. Owing to amplified connection among developed markets, the attraction of South Asian markets as an avenue for potential diversification has augmented considerably. As Investors from developed markets are looking to invest in emerging South Asian markets so there is a need to investigate the linkage between Developed and South Asian markets. This book incorporates the crisis events such as such Asian financial Crisis, US 9/11 Incident and US Global financial crisis and investigates the level of comovement between developed and South Asian markets. Is there a weak integration among South Asian and developed markets? Do South Asian markets provide better chances of international portfolio diversification as compare to developed markets? What effect these crisis have on the level of comovement among South Asian and Developed equity markets? This book is useful to get the answer of these questions.

Author : Swati Ghosh
Publisher :
Page : 32 pages
File Size : 33,88 MB
Release : 2007
Category : Capital market
ISBN :

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The authors explore the relative efficiency of stock markets across countries using newly available data on transactions costs and the quality of the informational environment of stock markets. These new measures are constructed from firm-level stock returns in a panel of 60 countries for the period 2000-04. The authors then develop a framework to understand the linkages between efficiency, liquidity, and their determinants. To give empirical content to the framework, they study the determinants of transactions costs and the quality of the informational environment. They find that some institutional arrangements-such as the availability of stock lending and short selling-and the openness of markets are associated with lower transactions costs. The authors also find that, although disclosure rules for directors and officers of listed firms are essential, the ability of shareholders to seek redress is more conducive to a better informational environment in stock markets. This in turn serves as the basis for the policy framework and recommendations for the East Asian region. In particular, the region needs to continue to strengthen the implementation and enforcement of corporate governance, to further enhance the market and institutional infrastructure, and focus on policy measures to foster a larger and more diversified investor base to continue to see gains in the efficiency of stock markets.