Please use this identifier to cite or link to this item:
Title: Testing for weak form efficiency of the Singapore stock market using technical analysis
Authors: Cheow, Xue Yen
Cao, Shabaihe
Lim, Cheryl Si Hong
Cheow, Xue Yen
Keywords: DRNTU::Business::Finance
DRNTU::Business::Finance::Capital market
Issue Date: 2013
Abstract: Since the inception of Efficient Market Hypothesis (EMH) in the 1960s, many debates and questions have been raised about this theory. This research study has been conducted to test the weak-form efficiency of Singapore Stock Exchange (SGX) using technical analysis (TA). Daily price information of Straits Times Index (STI) for the period ranging from January 2003 to December 2012 has been extracted for the purpose of this study. Apart from using TA, a test will also be conducted to study the existence of an anomaly that is turn-of-the-month (TOM) effect, to further examine the efficiency of the market. Our results from simple moving average (SMA) and opening range breakout (ORB) have shown that Singapore stock market is weak-form efficient. However, turn-of-the-month anomaly gives an opposing view. Hence, we have concluded that Singapore stock market is weak-form efficient to a certain extent.
Rights: Nanyang Technological University
Fulltext Permission: restricted
Fulltext Availability: With Fulltext
Appears in Collections:NBS Student Reports (FYP/IA/PA/PI)

Files in This Item:
File Description SizeFormat 
  Restricted Access
4.1 MBAdobe PDFView/Open

Page view(s) 20

checked on Oct 21, 2020

Download(s) 20

checked on Oct 21, 2020

Google ScholarTM


Items in DR-NTU are protected by copyright, with all rights reserved, unless otherwise indicated.