A Comparison of Stock Market Efficiency of the BRIC Countries
Terence Tai-Leung Chong, Sam Ho-Sum Cheng, Elfreda Nga-Yee Wong
DOI: 10.4236/ti.2010.14029   PDF    HTML     8,027 Downloads   19,941 Views   Citations


This article compares the stock market efficiency of Brazil, Russia, India and China (commonly referred to as BRIC). The profitability of trading rules associated with the Simple Moving Average (SMA), the Relative Strength Index (RSI), the Moving Average Convergence Divergence (MACD) and the Momentum (MOM) are evaluated. It is found that these indicators are most profitable in the Russian stock market. The Brazilian stock market is found to be the most efficient market among the BRIC. An explanation for such a discrepancy is provided.

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T. Chong, S. Cheng and E. Wong, "A Comparison of Stock Market Efficiency of the BRIC Countries," Technology and Investment, Vol. 1 No. 4, 2010, pp. 235-238. doi: 10.4236/ti.2010.14029.

Conflicts of Interest

The authors declare no conflicts of interest.


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