Many people in the working world – across time and culture – hate Mondays because it’s the first day back at work after the weekend… and love Fridays because they’re the doorway to the weekend. It turns out that stock markets feel the same way.
Much of what happens in stock markets seems random. But there are some strong non-random patterns to stock market behaviour. For example, we’ve talked about whether the January barometer is a good indicator of performance for the rest of the year, and whether the “sell in May and go away” strategy actually works.
Add this to the list: Stock returns on Mondays are generally negative – and they’re lower than returns on any other day of the week.
Across the region, average returns are negative on Mondays. They average -0.07 percent for Singapore’s STI, -0.05 percent for Malaysia’s KLCI and -0.......