Short-Term Contrarian Profits in the Kuwait Stock Market
International Journal of Business and Management, 2015
12 Pages Posted: 2 Nov 2015
Date Written: September 9, 2014
This paper examines whether there is an existence of a short-term contrarian profits at the firms in Kuwait Stock Exchange (KSX). The role of return seasonality is also investigated. This article documents strong evidence for the short-term contrarian strategy in the Kuwait stock exchange. The result of this study finds that the short-term contrarian profits for the Kuwait firm market cannot be explained by January effect. Finally, this paper shows a strong symmetry between the winner and loser portfolios.
Keywords: Kuwait Stock Exchange (KSX), short-term contrarian.
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