The Impact Of The Trade War Between China And The United States On The Structure Of China's Stock Market

The Chinese stock market has experienced three decades of ups and downs,during which it has experienced the 2003 SARS epidemic,the 2008 Global financial crisis,the 2020 COVID-19 epidemic and so on,the stock market has also been greatly affected,it can be seen that major events at home and abroad have a huge impact on the stock market.In the current domestic and international economic environment,the most closely watched Sino-US trade war has had a significant impact on China's stock market.Under the current circumstances,as a representative of emerging economies,the changes in the network structure of China's stock market will have great significance for the government to supervise the stock market and for scholars to study the stock market of emerging economies.The main content and results are as follows:This paper mainly uses threshold networks and cyber attacks to explore the topological structure of China's stock market.First,300 representative stocks were selected from the Shanghai and Shenzhen 300 and China Securities 500 as nodes in the network,collecting the daily closing prices of these 300 stocks from January 4,2010 to April 2,2019 for a total of 2,247 trading days,the daily closing price of the day is processed by the Pearson coefficient as the connecting edge,and three thresholds are selected to construct a threshold network for the three time periods before the trade war,after the trade war,and overall(2010 to 2019)to analyze the influence of the topology of the stock network.Secondly,this article combines the serious fluctuations that may occur in the important central node at this stage,considers and studies the possible impact of the Chinese stock market;through cyber attacks,nodes are removed in a targeted manner,and the changes that will occur to other nodes associated with the central node company when it is greatly affected by the trade war are simulated;analyze and explore the stock network through the vulnerability indicators in the network attack and the changes in the network parameters of each layer after the network attack.This article finds that the Sino-US trade war has caused a major change in the topology of China's stock market network.The stock market network density has become significantly larger,the average path has become shorter,so the probability of a crisis has been increased.At the same time,it is found that there are a number of central node companies in the network,which play a vital role in the stability of the network topology.After the cyber attack,due to the absence of central nodes,the topological structure of the stock network has undergone major changes.The clusters have evolved from several large clusters into multiple small clusters,and the correlation between the clusters has decreased.At the same time,data analysis also found that after 30 years of development,China's stock market has matured and its ability to resist external risks has been significantly improved.