Please use this identifier to cite or link to this item: https://doi.org/10.1108/01443580010354435
Title: Intermarket timing in equity investments: Hong Kong versus Singapore
Authors: Wong, K.A. 
Tai, L.S.
Keywords: Hong Kong
Investment management
Quantitative modelling
Singapore
Stock markets
Issue Date: 2000
Source: Wong, K.A.,Tai, L.S. (2000). Intermarket timing in equity investments: Hong Kong versus Singapore. Journal of Economic Studies 27 (6) : 525-540. ScholarBank@NUS Repository. https://doi.org/10.1108/01443580010354435
Abstract: Market timing offers an attractive alternative to buying-and-holding assets if the investors can predict market movements accurately. The objective of this paper is to test the profitability of market timing between two national equity markets and to determine the required level of predictive accuracy for such a venture to pay off. Hong Kong and Singapore stock markets are chosen due to the likeliness for investors to switch investments between these two markets. Three different frequencies of portfolio revision together with three levels of transaction costs are employed in the test. The results reveal that portfolios, that are revised every quarter, display the most likelihood of achieving profits greater than that of a buy-and-hold strategy. However, the required level of predictive accuracy may still be beyond the reach of most of the investors. © MCB University Press.
Source Title: Journal of Economic Studies
URI: http://scholarbank.nus.edu.sg/handle/10635/45244
ISSN: 01443585
DOI: 10.1108/01443580010354435
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