Figure A.lTheday-of-the-week effects of China’s Stock M arket
250
The Efficiency of China’s Stock Market
Figure A.2 Average daily returns by month in the year on the Shanghai and Shenzhen markets
Note: Data in Table 6.5.
Appendix251
Notes: Data are in table 6.10. ‘pr’ means pre-holiday trading days and ‘po’ means post-
holiday trading days.
Figure A.3 Holidayeffect
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