Foreign investors' trading and earnings in China's stock market --Evidence from Shanghai-Shenzhen Stock Connect

被引：0
|
作者：
Wang, Junkai [1 ]
Nie, Aoxiang [2 ]
Qi, Baoeli [1 ]
机构：
[1] Xi An Jiao Tong Univ, Sch Management, Xian, Peoples R China
[2] Rochester Univ, Sch business, Rochester, NY USA
来源：
APPLIED ECONOMICS LETTERS | 2024年 / 31卷 / 20期
关键词：
Foreign investment; Shanghai-Shenzhen Stock Connect; trading strategy; A-share index; return; RETURNS; FLOWS;
D O I：
10.1080/13504851.2023.2211332
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Based on the trading data of Shanghai-Shenzhen Stock Exchanges from 2017 to 2020, we study whether foreign investors' trading strategies have an impact on China's A-share earnings. The results show that the net inflow of foreign capital is positively correlated with the return of A-share, and foreign capital prefers high-quality Chinese stocks. Foreign investors can operate accurately, buying at a low price and selling at a high price; A-share held by foreign investors can obtain excess earnings, and this effect will be amplified over time. This paper provides powerful inspiration for stock investors.
引用
收藏
页码：2161 / 2165
页数：5
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