"Rationality" of macroeconomics expectations of the Asia Pacific markets.

• Main Authors: Chan, Huan Yong., Chong, Siok Chian., Chia, Candace Siok Ken.
• Other Authors: Nanyang Business School
• Format: Theses and Dissertations
• Language: English
• Published: 2011
• Subjects: DRNTU::Business::Finance::Stock exchanges
• Online Access: http://hdl.handle.net/10356/42721
• Institution: Nanyang Technological University

Since early 1980s, many researches and analyses have been carried out to determine how surprises in macroeconomic news releases affect asset prices. Some of the fine examples of these researches are by Cornell (1982), Edwards (1982), Engel and Frankel (1984) and Hardouvelis (1984). Most of these studies concluded that surprises in news announcements do have significant effect on assets prices. To date, most of these studies were targeted on either the U.S markets or European markets. One of the reason is because in these markets, there are known and tested sources where economists and anaysts are able to obtain expectations data on major macroeconomics indicators.An example of good source of such information can be obtained from Money Market Services International (MMS), which is based in San Francisco, U.S.