IDEAS home Printed from https://ideas.repec.org/a/ris/integr/0468.html
   My bibliography  Save this article

Profitability of Technical Analysis in the Singapore Stock Market: before and after the Asian Financial Crisis

Author

Listed:
  • J. Kung, James

    (Ming Chuan University)

  • Wong, Wing-Keung

    (Hong Kong Baptist University)

Abstract

In the aftermath of the Asian financial crisis, a series of reform and liberalization measures have been implemented in Singapore to upgrade its financial markets. This study investigates whether these measures have led to less profitability for those investors who employ technical rules for trading stocks. Our results show that the three trading rules consistently generate higher annual returns for 1988-1996 than those for 1999-2007. Further, they generally perform better than the buy-and-hold (BH) strategy for 1988-1996 but perform no better than the BH strategy for 1999-2007. These findings suggest that the efficiency of the Singapore stock market has been considerably enhanced by the measures implemented after the crisis.

Suggested Citation

  • J. Kung, James & Wong, Wing-Keung, 2009. "Profitability of Technical Analysis in the Singapore Stock Market: before and after the Asian Financial Crisis," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 24, pages 135-150.
    • Handle: RePEc:ris:integr:0468
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Doh-Khul Kim & Sung-Min Kim, 2022. "What Do We Learn from Daily Leaders and Laggards in Stock Investment? Do They Help Outperform the Market Average?," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 14(2), pages 1-44, February.
    2. Mohamed Masry, 2017. "The Impact of Technical Analysis on Stock Returns in an Emerging Capital Markets (ECM¡¯s) Country: Theoretical and Empirical Study," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 9(3), pages 91-107, March.
    3. Michael McAleer & John Suen & Wing Keung Wong, 2016. "Profiteering from the Dot-Com Bubble, Subprime Crisis and Asian Financial Crisis," The Japanese Economic Review, Japanese Economic Association, vol. 67(3), pages 257-279, September.
    4. Smita Roy Trivedi, 2022. "Technical analysis using Heiken Ashi Stochastic: To catch a trend, use a HASTOC," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(2), pages 1836-1847, April.
    5. Osama El Ansary & Mona Atuea, 2017. "Testing the Effect of Technical Analysis Strategies on Achieving Abnormal Return: Evidence from Egyptian Stock Market," Accounting and Finance Research, Sciedu Press, vol. 6(2), pages 1-26, May.

    More about this item

    Keywords

    Asian financial crisis; profitability; technical analysis; moving average; trading range breakout;
    All these keywords.

    JEL classification:

    • D92 - Microeconomics - - Micro-Based Behavioral Economics - - - Intertemporal Firm Choice, Investment, Capacity, and Financing
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ris:integr:0468. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Yunhoe Kim (email available below). General contact details of provider: https://edirc.repec.org/data/desejkr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.