Association in Emerging Asian Stock Markets: A Test of Co-Integration

In an epoch of mounting Liberalization, Privatization and globalization in the emerging economies, the diffusion of movements in international financial markets beyond national territories assets are main issues for a cross border investment decision. The study under consideration is focused on examining the existence of relationship among the movement of equity indices of emerging Asian stock markets. The daily closing prices of equity indices of emerging Asian stock markets will be taken. The results of the study will have an implication on international investors in building a strategy for portfolio diversification by investing in different Asian markets.