Rearch of changeful relationship betweeen volumes and stock prices on the Taiwan stock market

• Main Authors: Jung Chao,Wang, 王榮照
• Other Authors: Feng I,Chung
• Format: Others
• Language: zh-TW
• Published: 2000
• Online Access: http://ndltd.ncl.edu.tw/handle/64267254573267968643

碩士 === 輔仁大學 === 應用統計學研究所 === 88 === The supply and demand laws aren’t the same on the stock and commodity market.When profitable message(ex:shipment increase) flows to the stock market,the supply of the stocks don’t increase,instead of decreasing,therefore the prices of stocks will down ; inversely,etc.Before the message flows to the market,only a few investors will adjust the proportion of their stocks.So that how to decrease the investment risk is very important to the other investors. The first,flow of message on the stock market is faster than the message from media.Furthermore,Clerk(1973) also indicated that the relationship between stock prices changes and volumes is postive correlation.Thus investors can take advantage of the relation of stock prices and volumes decreased investment risk . 65 electric stocks was picked up as examples during the period of Taiwan weighted stock index’s uptrend and expect to find the relation of stock prices and volumes by analysising data.Finally,I get three points; 1.During the period of stock prices’ powerful uptrend, increase of volumes make stock prices advance. 2.During the period of stock prices’ powerful uptrend,when a particuliar trading day occours that volumes increase and the stocks lower in value,it means that stock prices’ powerful uptrend will start to die down. 3.Trading day usually occours that volumes decrease and stock prices advance during a short- term stock prices’ uptrend after stock prices’ powerful uptrend died down.