Research On The Impact Of The Sino-US Trade War On The Related Sectors Of The Shanghai And Shenzhen Stock Market

At present,the global economic development lacks momentum,and all countries in the world are facing a huge test.The United States,as a superpower,is equally worried,trying to resolve domestic conflicts by provoking external struggles,challenging the world with its own efforts,implementing a "global contraction,US first" economic policy,and promoting domestic tax cuts and interest rate increases The manufacturing industry returns,and protects domestic industries through punitive tariffs and technical barriers.Trade protection policies characterized by "reverse globalization and unilateralism" are causing them to seize more benefits from other countries in the world.The trade war against China provoked by the United States is a particularly prominent example.Since China and the United States resumed normal diplomatic relations,the economies have depended on each other and have achieved tremendous development.However,in the era of Trump,Sino-US relations have become confusing.There has never been a winner in the trade war.The consequence is to lose each other.As the two most important economies in the world,the recession of the Sino-US economy will also drag down the development of the global economy.This paper takes the Sino-US trade dispute as the research background.After researching and analyzing the relevant literature and theories,first of all,starting from the trade volume of import and export commodities between China and the United States in the past two years,agricultural products,vehicles and their parts,electrical equipment and Textile manufacturing four sectors as research objects.Then,using the data of 41 trading weeks from November 3,2017 to August 10,2018,and the data of the subsequent 70 trading weeks,the event research method was used to analyze the week of 197 companies listed in the relevant sectors of Shanghai and Shenzhen.Yield data is studied to explore how the outbreak of the Sino-US trade war has affected the stock price volatility and yield of listed companies in related sectors.Finally,on the basis of event research and analysis,the cumulative excess return rate of listed companies is the explanatory variable,and the outbreak of the Sino-US trade war is the explanatory variable.The number of circulating shares,turnover rate,price-earnings ratio and return on net assets of the sample companies are controlled.Variables,using multiple linear regression to examine the impact of the outbreak of trade wars and the factors of securities themselves on the cumulative excess returns of sample companies.By analyzing statistical data and model results,the following conclusions are mainly obtained:(1)Judging from the overall sector of the Shanghai and Shenzhen stock markets,the outbreak of the Sino-US trade war has little impact on the market.(2)The outbreak of the Sino-US trade war has different impacts on different sectors.(3)The United States mainly suppresses my country's high-tech industries.(4)In the long run,the impact of the Sino-US trade war on the relevant sectors of the Shanghai and Shenzhen markets has gradually weakened.Combining theoretical research and empirical analysis,this article makes the following suggestions to the Chinese government:(1)Be prepared for long-term response and actively negotiate and negotiate.(2)Actively promote the "Belt and Road" strategy and support enterprises to open up new overseas markets.(3)Fully tap the potential of domestic demand and guide enterprises to deepen the domestic market.(4)Increase policy support for technology companies.At the same time,it proposes countermeasures to enterprises in related industries.