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About the other Asian markets I don't know, but here in India when almost a fourth of our FX reserves comprise of overseas fund managers inflows, we get the jitters every time the NASDAQ or the DOW sneeze. We had been closed Friday and my bet is come Monday we shall see a lot of stocks open LD and stay locked LD because we have a fixed 8% band(both to the upside and the downside) on prior close.
Rakesh
-----Original Message-----
From: Gwenael Gautier [SMTP:ggautier@xxxxxxxxxxx]
Sent: Friday, April 14, 2000 6:38 PM
To: owen@xxxxxxxxxxxxx
Cc: realtraders@xxxxxxxxxxxxxxx
Subject: Re: [RT] Correlation of international markets?
Correlation is less than what the eye says and varies a lot over time.
European markets are more correlated to the US than Asian markets, but
mostly on the downside in sharp trends, less so on the upside...
FWIW
Gwenn
Owen Davies wrote:
> Has anyone done rigorous studies of how closely the
> S&P, Hang Seng, FTSE, etc. are correlated? How much
> of a change in one it takes to influence the others?
> I know the obvious lore, but it would be nice to have some
> hard statistics. (And I'm pretty lazy about developing my
> own when someone else may have done the job.)
>
> Thanks.
>
> Owen Davies
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