Stock market co-movement during the financial tsunami - The cases of China, Hong Kong, Taiwan, and the United States

• Main Authors: Yun-Tong Lin, 林運東
• Other Authors: none
• Format: Others
• Language: zh-TW
• Published: 2010
• Online Access: http://ndltd.ncl.edu.tw/handle/99539305563226614240

碩士 === 雲林科技大學 === 企業管理系碩士班 === 98 === Since 2008, the financial tsunami has occurred. There are lots of studies on the topic of stock market comovement. Taiwanese economy is always influences by the U.S.A. Moreover, China and Hong Kong are the U.S.A. trading partners. The research question is: “Is there any linkage between the U.S.A and Asia stock markets?” or “Is there any stock market comovement among the U.S.A. and Asian stock markets?” This research opts for descriptive statistics to describe our observed data. By applying Trend graph to present individual stock market price. Two countries’ stock price and index are used to run T-test, correlation analysis, and regression analysis. Our empirical results show that both NASDAQ and Dow Jones are highly correlated with Asian stock market price. Therefore, there is comovement between two different countries’ stock market. Our hypothesis is accepted that there is a comovement between the U.S.A and Asia stock market.