Author(s)

Terence Tai-Leung Chong, Sam Ho-Sum Cheng, Elfreda Nga-Yee Wong

.

This article compares the stock market efficiency of Brazil, Russia, India and China (commonly referred to as BRIC). The profitability of trading rules associated with the Simple Moving Average (SMA), the Relative Strength Index (RSI), the Moving Average Convergence Divergence (MACD) and the Momentum (MOM) are evaluated. It is found that these indicators are most profitable in the Russian stock market. The Brazilian stock market is found to be the most efficient market among the BRIC. An explanation for such a discrepancy is provided.

Simple Moving Average, Relative Strength Index, Moving Average Convergence Divergence, Momentum

T. Chong, S. Cheng and E. Wong, "A Comparison of Stock Market Efficiency of the BRIC Countries," Technology and Investment, Vol. 1 No. 4, 2010, pp. 235-238. doi: 10.4236/ti.2010.14029.