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

Michael Chak Sham WONG, Yan Leung Stephen CHEUNG

Research output: Contribution to journalArticle

8 Citations (Scopus)

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. Copyright © 1999 Elsevier Science Ltd. All rights reserved.

Original languageEnglish
Pages (from-to)451-465
JournalOmega
Volume27
Issue number4
DOIs
Publication statusPublished - Aug 1999

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Hong Kong
Analysts
Investment management
Stock selection
Portfolio analysis
Industry
Relative importance
Investors
Stock market
Investment horizon
Fundamental analysis
Fund management
Technical analysis

Citation

Wong, M. C.-S., & Cheung, Y.-L. (1999). The practice of investment management in Hong Kong: Market forecasting and stock selection. Omega, 27(4), 451-465.

Keywords

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