Reaction to news in the Chinese stock market: A study on Xiong’an New Area Strategy

Kun Li

Journal of Behavioral and Experimental Finance, 2018, vol. 19, issue C, 36-38

Abstract: This study investigates how stock markets react to different news categorized by diverse aspects. We take the Xiong’an New Area Strategy, the most recent breaking event and milestone national plan in China, as the target to study. We collect Xiong’an-related news and classify them by different aspects: sentiment, source and origin of viewpoints. Our results indicate that positive news improves the performance of the stock market and the trading of individual stocks, whereas negative news impedes them. News from government-related media has greater effects on stock market and stocks than news from other sources. News with viewpoints from academia has greater effects than news with viewpoints from governments and industries.

Keywords: Chinese stock market; Xiong’an New Area; News; Intra-day data (search for similar items in EconPapers)
JEL-codes: G01 G12 G14 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (13)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:beexfi:v:19:y:2018:i:c:p:36-38

DOI: 10.1016/j.jbef.2018.03.004

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