The profitability of moving average trading rules in South Asian stock markets

摘要: Abstract Two studies published in the last decade ( Brock et al., 1992 , Hudson 1996 ) uncover evidence that technical trading rules have predictive ability with respect to market indices USA and UK. This study analyses performance of one group these using index data for four emerging South Asian capital markets (the Bombay Stock Exchange, Colombo Dhaka Exchange Karachi Exchange) examines implications results weak form efficient hypothesis. The findings indicate reject null hypothesis returns be earned from studying moving average values are equal those achieved a naive buy hold strategy; employment techniques generates excess investors markets.