Proceedings of the 2017 2nd International Seminar on Education Innovation and Economic Management (SEIEM 2017)

Weather Impacts on Trading Volume-Evidence from Hang Seng Index

Authors
Shaosong Wang, Weihua Liu
Corresponding Author
Shaosong Wang
Available Online December 2017.
DOI
https://doi.org/10.2991/seiem-17.2018.116How to use a DOI?
Keywords
Behavioural Economics, Weather, Trading Volume, Hong Kong
Abstract
Weather impacts on stock returns have been explored by previous studies. However, trading volume has not been noticed too much. We believe it is important to test the relationship between weather phenomena and trading volume, since stock return and volatility do not fully reflect the trading activities. In particular, trading volume can additionally represent for adventurous activities. In this paper, we investigated the effect of daily weather from 2002 to 2015 on the 3,398 data points for Hang Seng Index volume.. To test the hypothesis, we use linear regression model to analyze the weather and trading volume data. The results indicate that range of weather factors are significantly correlated with trading volume in Hong Kong stock market. These results are not in line with market efficiency since people's trading volume is significantly influenced by weather rather than fundamental analysis.
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Proceedings
2017 2nd International Seminar on Education Innovation and Economic Management (SEIEM 2017)
Part of series
Advances in Social Science, Education and Humanities Research
Publication Date
December 2017
ISBN
978-94-6252-442-2
ISSN
2352-5398
DOI
https://doi.org/10.2991/seiem-17.2018.116How to use a DOI?
Open Access
This is an open access article distributed under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Shaosong Wang
AU  - Weihua Liu
PY  - 2017/12
DA  - 2017/12
TI  - Weather Impacts on Trading Volume-Evidence from Hang Seng Index
BT  - 2017 2nd International Seminar on Education Innovation and Economic Management (SEIEM 2017)
PB  - Atlantis Press
SN  - 2352-5398
UR  - https://doi.org/10.2991/seiem-17.2018.116
DO  - https://doi.org/10.2991/seiem-17.2018.116
ID  - Wang2017/12
ER  -