Study On The Effect Of Stock Index On China A-share Market

The stock market is playing a very important role which consider to be economy "barometer".In April 16,2010,the official launched the CSI 300 index futures in order to improve the capital market mechanism.CSI 300 index futures end "unilateral market" mode of A-share market,which brought endless opportunities to the market and new challenges to assess risk appropriately.Stock index futures has been operating for nearly six years.The A-share has gone through a complete bear-bull-bear's cycle.From2010 dropped to 28.Jun.2013 and hit lowest points 1849 lasting one year until 2015.After new high 5178.19 in Jun.15.2015,A-share turn down to 3000 or less immediately.Lots of policy implemented during this time and it will be a history which is very meaningful and worth summarizing.This thesis will research the background and reasons for the A-share market from January to August in 2015 and do analysis on the perspective of macro-economic,efficient markets hypothesis,technical analysis,market psychology and feedback loop in the current A-share market and predicts future market position by Elliott Wave Theory.Researching in the market behavior from the perspective of behavioral finance.It is very important to the development of China's capital market in the future,It is also helpful to make investors know the market better,use correct investment philosophy and choose appropriate strategy.