Hans Byström
Professor
Does the Chinese stock market react to global news?
Författare
Summary, in Swedish
Abstract in Undetermined
In this paper, the news aggregator GoogleNews is used to assess the impact ofworldwide
news on the volatility of the Chinese stock market. Although we find a strong link
between the global stock market volatility and the amount of stock market-related news
available worldwide, the link between the Chinese stock market and the same set of
worldwide news is found to be much weaker. Diverging patterns for (domestic) A
shares and (international) B shares lead us to conclude that the direction of causality
most likely is from news volumes to volatility and not vice versa.
In this paper, the news aggregator GoogleNews is used to assess the impact ofworldwide
news on the volatility of the Chinese stock market. Although we find a strong link
between the global stock market volatility and the amount of stock market-related news
available worldwide, the link between the Chinese stock market and the same set of
worldwide news is found to be much weaker. Diverging patterns for (domestic) A
shares and (international) B shares lead us to conclude that the direction of causality
most likely is from news volumes to volatility and not vice versa.
Avdelning/ar
- Nationalekonomiska institutionen
Publiceringsår
2011
Språk
Engelska
Sidor
448-455
Publikation/Tidskrift/Serie
Journal of the Asia Pacific Economy
Volym
16
Avvikelse
3
Dokumenttyp
Artikel i tidskrift
Förlag
Routledge
Ämne
- Economics
Nyckelord
- news aggregator
- volatility
- stock market
- China
- worldwide news
Aktiv
Published
ISBN/ISSN/Övrigt
- ISSN: 1354-7860