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Momentum and Contrarian Strategies on ASEAN Markets

In: Emerging Markets and Financial Resilience

Author

Listed:
  • Shangkari V. Anusakumar
  • Ruhani Ali
  • Chee-Wooi Hooy

Abstract

Momentum strategy entails buying stocks with a recent history of good performance and selling stocks with bad performance (Jegadeesh & Titman, 1993). On the contrary, contrarian strategy proposes a trading strategy of buying poorly performing stocks and selling better-performing stocks (De Bondt & Thaler, 1985). Underlying the contrarian strategy is the belief that prices will reverse, whereas proponents of momentum strategy contend that return continuation will occur. Both strategies are successful at different time horizons: intermediate term for momentum and long term for contrarian.

Suggested Citation

  • Shangkari V. Anusakumar & Ruhani Ali & Chee-Wooi Hooy, 2013. "Momentum and Contrarian Strategies on ASEAN Markets," Palgrave Macmillan Books, in: Chee-Wooi Hooy & Ruhani Ali & S. Ghon Rhee (ed.), Emerging Markets and Financial Resilience, chapter 9, pages 147-168, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-26661-3_9
    DOI: 10.1057/9781137266613_9
    as

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