The practice of investment management in Hong Kong : Market forecasting and stock selection

Research output: Journal Publications and Reviews (RGC: 21, 22, 62)21_Publication in refereed journalNot applicablepeer-review

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Detail(s)

Original languageEnglish
Pages (from-to)451-465
Journal / PublicationOmega
Volume27
Issue number4
Publication statusPublished - Aug 1999

Abstract

This is the first survey study in Hong Kong on the practice of investment management in terms of stock market forecasting and stock selection. Our respondents come from different sectors of the investment industry. Hong Kong has became one of the most important centres for fund management industry. Thus, it is important for international investors to acquire a better understanding of how investment professionals or analysts in Hong Kong practice their trades. The respondents were asked to rate the relative importance of a number of techniques for stock analysis. There are three major categories of techniques in the survey, namely fundamental analysis, technical analysis and portfolio analysis. Our results indicate that Hong Kong analysts rely more on fundamental and technical analyses and rely less on portfolio analysis. Also, investment horizon, analysts' backgrounds and their company attributes have some association with the relative importance of the techniques the analysts use for stock analysis.

Research Area(s)

  • Fundamental analysis, Investment practices, Market efficiency, Portfolio analysis, Survey, Technical analysis