LOS, CORNELIS A. - EconWPA - 2004
data of six Asian stock markets - Hong Kong, Indonesia, Malaysia, Singapore, Taiwan and Thailand - using Sherry's (1992 … years, from June 1986 to July 1996. These tests clearly show that all six stock markets lacked at least one of the two … bear markets, which are so characteristic for illiquid emerging markets. All six Asian stock markets exhibit strong price …