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The UK Stock Market Almanac 2016: Seasonality analysis and studies of market anomalies to give you an edge in the year ahead by Stephen Eckett

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Chinese calendar and the stock market

When we look at the annual performance of the stock market we naturally take our start and end points as 1 January and 31 December. For example, a long-term chart of an index will normally plot the index values on 31 December for each year.

But using different start and end points may be interesting. While the overall performance of the market will obviously not change, the path to the final point may show up differently, and thus possibly reveal a pattern of behaviour not previously noticed.

The start of the Chinese Year moves around (on the Western calendar) from year to year, but always falls between 21 January and 21 February. The calculation of the actual date of the Chinese New Year is sinologically ...

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