Asian Stock Markets Proven Unpredictable, Challenging Efficient Market Hypothesis.
The article analyzes the predictability of asset returns in six emerging stock markets of Asia. Researchers looked at whether stock prices follow a random walk pattern or if they can be predicted using the ARIMA model. They found that the stock prices in Hong Kong, Japan, and Korea follow a random walk, while Taiwan and Thailand do not. The study suggests that the efficient market hypothesis, which states that prices reflect all available information, may not hold true for all Asian stock markets.