影响 股票市场的 因素（Factors affecting the stock market）.docVIP

影响 股票市场的 因素（Factors affecting the stock market） Stock market price fluctuation is the basis of stock market operation, and also the focus of stock investors. The fluctuation of stock price is influenced by various economic factors and non economic factors. The analysis of these factors can provide a basis for investors to make correct investment decisions. Based on the examples of stock market volatility in China, this paper starts with the transmission mechanism of various factors affecting stock prices, and focuses on the general investigation of the basic factors that affect the price fluctuation in Chinas stock market. Although there are many factors affecting the stock price volatility, the analysis of these factors can proceed from the following three points: (1) the stock price has its intrinsic value, and the stock price fluctuates around its intrinsic value. The intrinsic value determinism is the basis of the basic analysis; (2) the stock price fluctuates along with the investors psychological expectation to various factors, and the psychological expectation theory is the footstone of the technical analysis; (3) stock price fluctuation is the result of all factors forming resultant force; As a starting point, we can comprehensively examine the basic factors that affect the price fluctuation of Chinas stock market from three aspects of economic factors, market factors and non economic factors. I. macroeconomic factors Macroeconomic factors from different directions directly or indirectly affect the business and stock companys profitability and capital appreciation, influence the residents income and psychological expectations from different sides, and have a considerable impact on the stock market supply and demand. 1. economic cycles The economic cycle shows the alternation of expansion and contraction. In the four stages of economic contraction, recovery, prosperity and decline, the stock market fluctuates periodically, becoming the most important factor d