China's Stock Market Abnormal Fluctuation Analysis And Countermeasures Research

In this article, first of all,the development of our stock market is divided into three stages,emphasizing on the third period, that is, from January, 1999,since the stock law is promulgated.After statistics and analysis of SSE Index and comparing the foreign mature stock market.it is found that China's stock market exists abnormal undulating phenomenon. Through analyzing the affecting stock factors, it is divided into macroscopic policy and all kinds of dispersed events. The main reason that caused abnormal undulating phenomenon is dispersed events. Then it appraise the dynamics that various dispersed events affecting the stock market using the method of event study.At the same time, it analyses the direct effect on abnormal undulating phenomenon which affect the stock market. That is much higher systematic risk. Based on it,this article studies all kinds of defects that China's stock market exists at present.At last, it gives the related countermeasures against expediting finance,strengthening the construction of market supervising system, improving information disclosure system, changing the ways of the government's control, advancing the development of stock companies, making perfect stock market's stable measures and setting the historical problems.