Microsoft Word lina 's topic

Table 3 Average monthly R, MRSH, MRSZ and EX for each year
from 09/2007 to 06/2012 
year R MRSH 
MRSZ EX 
2007 
-0.301
0.204
-0.241
89.458
2008 
-6.627
-8.843
-8.367
96.516
2009 
6.319
4.897
6.232
100.717
2010 
-2.269
-1.287
-0.792
99.999
2011 
-0.547
-2.036
-2.785
102.515
2012 
-0.327
0.196
1.053
108.530
Note: R, MRSH, MRSZ and EX stand for banking industry sector stock return, Shanghai stock 
exchange market return, Shenzhen stock exchange market return, exchange rate. 
Table 3 is the average monthly data of R, MRSH, MRSZ and EX. The data 
show the trend of such factor with respect to the trend of stock returns. From 2007 to 
2008, banking industry stock return decrease from -0.3% to -6.6%, and Shanghai 
exchange stock return also decrease from 0.2% to -8.8%, and Shenzhen exchange 
stock return decrease from -0.2% to -8.4%, at the same time, exchange rate increase 
from 89.5 to 96.5. From 2008 to 2009, banking industry stock return from -6.6% 
increase to 6.3%, and Shanghai exchange stock return also increase from -8.8% to 
4.9%, and Shenzhen exchange stock return increase from -8.4% to 6.2%, at the same 
period, exchange rate also increase from 96.5 to 100.7. Just in 2010 to 2011, when 
banking industry stock return increase, but MRSH and MRSZ are decrease, and the 
exchange rate is decrease same with banking stock return. And from 2011 to 2012, 
when banking industry stock return and Shanghai exchange stock return and 
Shenzhen exchange stock return increase and the exchange rate also increase. We can 
see the Figure 2, the trend of R, MRSH and MRSZ very similar, and the other hand, 
the exchange rate in this period is the increase trend, we can see the Figure 2: 

---

35 
Note: R, MRSH, MRSZ and EX stand for banking industry sector stock return, Shanghai stock 
exchange market return, Shenzhen stock exchange market return, exchange rate. 
Figure 2 the trend of R, MRSH, MRSZ and exchange rate 
‐20
0
20
40
60
80
100
120
2006
2007
2008
2009
2010
2011
2012
2013
R
MRSH
MRSZ
EX

---

36