MACROECONOMIC FACTORS AFFECTING STOCK RETURNS OF CHINESE AUTOMOBILE INDUSTRY

Abstract

The impact of macroeconomic factors on the investment field is comprehensive, mainly reflected in the impact of macroeconomic policy adjustments on the stock market and the impact of macroeconomic policies on stock market trends. In securities investment, paying attention to changes in macroeconomic policies, especially the impact of monetary and fiscal policies on the stock market, helps to understand the economic performance and to obtain the best investment income in line with the stock market trend. Foreign scholars have been studying the price fluctuation of securities for many years and have become more mature with the development of the western securities market. Therefore, this paper is devoted to systematically studying the macroeconomic influencing factors of price fluctuations automobile industry stock market in China from 2010 to 2017, with a view to further understanding the deep-seated factors affecting the development of the securities market, revealing the factors affecting the changes in stock returns of automobile industry, and propose corresponding solutions in a targeted manner.

This paper discusses in detail the effects of macroeconomic factors such as interest rate, exchange rate and inflation on the stock returns of automobile industry.