Efficient market and the Covid-19 pandemic: case of ASEAN-5

Winston, Pontoh and Novi, Swandari Budiarso (2023) Efficient market and the Covid-19 pandemic: case of ASEAN-5. The Contrarian: Finance, Accounting, and Business Research, 1 (1): 5. pp. 23-29. ISSN 2963-9743

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The issue of Covid-19 has a negative impact, especially on the capital markets of ASEAN-5 countries (Indonesia, Malaysia, Singapore, Thailand, and the Philippines). This study aims to examine the movement of market returns in ASEAN-5 countries at the start of the Covid-19 pandemic. The data used are daily market indices for the period 2020 to 2021. The findings show that market indices for all ASEAN-5 countries move unstable throughout 2020. In 2021, efficient market conditions under the assumption of a weak form only occur in Singapore where the trend of the index of the market becomes more predictable. Empirical evidence also shows that the interrelationship between market indices in ASEAN-5 countries is varied.

Item Type: Article
Uncontrolled Keywords: Returns, Random walk, ASEAN-5, Covid-19
Subjects: Economics and Business
Economics and Business > Foreign Business & Economics
Depositing User: Djaenudin djae Mohamad
Date Deposited: 11 Jul 2023 01:17
Last Modified: 11 Jul 2023 01:17
URI: https://karya.brin.go.id/id/eprint/19707

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