The Research On The Impact From International Commodity Price To China’ Financial Asset Prices

With the rapid development of economy and foreign trade dependence of strength, China is no longer just world factory, it is a big consumer of commodities, and therefore fluctuations in international commodity prices has important strategic significance for the Chinese economy.From the financial attributes and product attributes of commodities, while the paper reviews the existing research on the impact of commodity prices on prices and stock prices, it studies the impact of international commodity prices on domestic financial asset prices.The empirical studies include (1) the study analyze the total impact of international commodity prices on the financial assets,that is the impact on the Shanghai Composite Index and SSE Government Bond Index;(2)the study analyze the relationship between specific varieties of commodity futures and corresponding varieties of stock, combined analysis of the case.The study found:(1) there is cointegration between the international commodity prices and domestic stock index and the international commodity prices is Granger of changes of domestic stock index; (2) the relationship between international commodity prices and bond index is relatively weak, only a whole influential; (3) there is cointegration between specific varieties of commodity futures and corresponding varieties of stock. And it could then make recommendations for portfolio investment in commodities and stocks. Compared to existing research, this paper considers the impact of the international commodity prices on the bond index, and use a combination of empirical and case study about the relationship of specific varieties of commodity futures and corresponding varieties of stock.