Research On The Impact Of Sino-us Trade Friction On Chinese Stock Market

The Sino-US trade friction has been a hot issue in China in the past two years,and it has affected the macro and micro levels of China to varying degrees.The uncertainty caused by the Sino-US trade friction will affect market sentiment,and then affect the stability of China’s stock market and financial market.Based on this research,this article puts forward countermeasures and suggestions for China’s response to Sino-US trade friction,and also provides reference for China to prevent the impact and shock of such macro events on Chinese stock market.This article takes the Sino-US trade friction as the starting point,and sorts out the landmark events in the past two years and how China’s stock market reacted.On this basis,the information on the Sino-US trade friction incident is further divided into three categories: US sanctions against China,China’s anti-sanctions against the United States,and negotiations between the two types.Based on the HAR-RV model,event variables are introduced.The Chinese stock market represented by the Shanghai Securities Composite Index and the Shenzhen Securities Composite Index is researched.At the same time,five industries affected by Sino-US trade friction are selected(respectively: Agricultural Products,Communication Equipment,Medical Equipment,Aerospace Equipment,Special Equipment)5 minutes high-frequency data based on how this incident responded.The study found that: First,the Sino-US trade friction will have a strong and sustained impact on China’s stock market;second,China’s Shanghai Stock Index and the Shenzhen Stock Exchange Index will be more significantly affected by China’s antisanctions information on the United States,and the Shenzhen Stock Exchange Index The response to this incident is stronger than that of the Shanghai Stock Exchange Index.Third,different industries in the industry sector have different reactions to the Sino-US trade friction.Communications equipment,special equipment,medical equipment and aerospace equipment indexes are more significantly affected by the Sino-U.S.Trade friction event,while agricultural product indexes are less significant;and the communications equipment and medical equipment industry index is more affected by U.S.sanctions against China events,while space equipment And special equipment responded more strongly to China’s anti-sanctions incident against the United States.Based on the above research,the following countermeasures and suggestions are proposed: First,vigorously develop China’s economy and deepen reform and opening up.Adhere to the "Belt and Road" initiative and strengthen regional cooperation.Second,increase imports and open up multiple markets to stimulate domestic consumption in China.Third,strengthen independent research and development and develop China’s own high-tech industries.Fourth,establish risk prevention and early warning mechanisms,strengthen correct public opinion guidance,and stabilize investor sentiment.