Macroeconomic factors and stock prices – A case of real estate stocks on Ho Chi Minh stock exchange

Authors

  • Vo Thi Quy
    International University, Vietnam National University HCMC, VN
  • Dang Thi Ngoc Loi
    International University, Vietnam National University HCMC, VN

DOI:

10.46223/HCMCOUJS.econ.en.6.1.111.2016

Keywords:

Macroeconomic Factors; Market Factors; Stock Prices; Real Estate Companies; HOSE.

Abstract

This study investigates the relationship of selected economic factors such as inflation rate, 10-year Government bond yields, GDP growth rate, exchange rate, and stock trading volumes and real estate stock price of 38 real estate companies listed on HOSE in period 7 years, from January 2009 to September 2015.The study found that 3 economic factors (inflation rate, GDP growth rate, and exchange rate) impact significantly on real estate stock prices; but the relationship between 10-year Government bond yield and trading volume, and real estate stock prices was not found. The research’s results imply that these factors should be taken into account as predictors of the movement of real estate stock price in Vietnamese stock market.

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References

Brajesh Kumar, Priyanka Singh, and Ajay Pandey (2009). The Dynamic Relationship between Price and Trding Volume: Evidence from Indian Stock Market. Research and Publications Paper, Vol.12, No.4, p. 2-35.

Branson, W., Halttunen, H. and Masson, P. (1977). Exchange rate in the short run: the dollar Deutsche mark rate. European Economic Review, 10, pp. 303-324.

Dornbusch, R. and Fischer, S. (1980). Exchange Rates and The Current Account. American Economic Review, Vol.70, No.5, pp. 960 – 971.

Ewan Rankin, Mulhummed Shah Idil (2014). A Century of Stock – Bond Correlations. Reserve Bank of Australia, Bulletin, 3rd quarter 2014, pp. 67-74.

HakanAltin (2014). Stock Price and Exchange Rate: The Case of BIST 100. European Scientific Journal, Vol.10, No.16, p. 65 – 78.

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Received: 01-03-2020
Accepted: 01-03-2020
Published: 20-05-2016

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How to Cite

Quy, V. T., & Loi, D. T. N. (2016). Macroeconomic factors and stock prices – A case of real estate stocks on Ho Chi Minh stock exchange. HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE - ECONOMICS AND BUSINESS ADMINISTRATION, 6(1), 63–75. https://doi.org/10.46223/HCMCOUJS.econ.en.6.1.111.2016

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Copyright (c) 2016 Vo Thi Quy; Dang Thi Ngoc Loi

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This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.