Author: Daniel F. S. ChoiPublisher:
ISBN:
Category : Stock index futures
Languages : en
Pages : 20
Book Description
The Efficiency of the Hong Kong Hang Seng Index Futures Market
Author: Daniel F. S. ChoiPublisher:
ISBN:
Category : Stock index futures
Languages : en
Pages : 20
Book Description
Volatility, Volume and Pricing Efficiency in the Stock Index Futures Market When the Underlying Cash Market Does Not Trade
Author: Yue-Cheong ChanPublisher:
ISBN:
Category :
Languages : en
Pages : 30
Book Description
This paper presents an event study of the trading of Hang Seng Index (HSI) futures contracts on the Hong Kong Futures Exchange (HKFE) after it begins to open fifteen minutes earlier and close fifteen minutes later than the underlying cash market, the Stock Exchange of Hong Kong (SEHK) in November 1998. The empirical results show that the extension of trading hours in the HKFE causes futures traders to shift their orders from other sessions of the day to the first 15-minute trading session preceding the opening in cash market. However, the increase in trading volume during the opening session does not bring any corresponding upsurge in return volatility. Instead, futures returns during the opening session are found to be relatively less volatile than before. In addition, the futures contract opening prices appear to have little change (or even reduction) in pricing errors when compared with the pre-extension period. These observations suggest that trading activities during the extended opening session of the futures market are dominated by the better-informed traders which help to speed up the price discovery process in the market. On the other hand, there are no notable changes in return volatility, trading volume and pricing efficiency in the last 15-minute trading session of the HKFE during the post-extension period.
The Financial Markets of Hong Kong
Author: Andrew F. FrerisPublisher: Routledge
ISBN: 0429867115
Category : Social Science
Languages : en
Pages : 232
Book Description
The financial markets of Hong Kong have a reputation for volatility, but careful analysis of past behaviour reveals consistent trends and coherent actions. This study, first published in 1991, at a time of uncertainty before Hong Kong’s transfer to China in 1997, analyses each of the financial markets in the colony, and explains the activities of banks, deposit-taking companies, the stock exchange, and markets in capital, gold, futures, unit trusts, and foreign exchange. Examining these in terms of structure, regulation and in competition, it constitutes not just a description but a thorough analysis of the characteristic dynamics of each market.
The Intraday Pricing Efficiency of Hang Seng Index Options and Futures Markets
Author: Joseph K. W. FungPublisher:
ISBN:
Category : Options (Finance)
Languages : en
Pages : 24
Book Description
The Profitability of Hang Seng Index Arbitrage
Author: Yui LeeBehavior of the Hong Kong Stock Index
Author: Kwok Choy TangPublisher:
ISBN:
Category : Stock exchanges
Languages : en
Pages : 128
Book Description
Investigation of price behavior of the Hong Kong Hang Seng Index and of its stock index futures. Attempts to determine the efficiency of the Hong Kong stock exchange, now the world's sixth largest.
The Hedging Effectiveness Measures of the Hang Seng Index Futures Market in Hong Kong
Author: David Yee-kai ChanPublisher:
ISBN:
Category : Derivative securites
Languages : en
Pages : 21
Book Description
Comparison of the Effectiveness of Hang Seng Index Futures and Hang Seng Index-linked Bond for Hedging the Risks of Stock Investment in the Hong Kong Stock Market
Author: Carol Ka Lok ChiuPublisher:
ISBN:
Category : Stock exchanges
Languages : en
Pages :
Book Description
The Hang Seng Index Options Market in Hong Kong
Author: Yuk-Lung Alan CheungPublisher:
ISBN: 9781361191484
Category :
Languages : en
Pages :
Book Description
This dissertation, "The Hang Seng Index Options Market in Hong Kong" by Yuk-lung, Alan, Cheung, 張玉龍, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. DOI: 10.5353/th_b3126599 Subjects: Options (Finance) - China - Hong Kong Futures market - China - Hong Kong Stock index futures - China - Hong Kong
Manual of the Hong Kong Securities Industry
Author: Robert Harold TerpstraPublisher:
ISBN:
Category : Securities
Languages : en
Pages : 434
Book Description