Weather Impacts on Trading Volume-Evidence from Hang Seng Index
Shaosong Wang, Weihua Liu
Available Online December 2017.
- https://doi.org/10.2991/seiem-17.2018.116How to use a DOI?
- Behavioural Economics, Weather, Trading Volume, Hong Kong
- 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.
- 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 -