title: Momentum returns, market states and financial crises. Evidence from China and Hong Kong

authors: Cheema, Muhammad A.

subjects: Momentum returns

abstract: This chapter investigates the profitability of the momentum trading strategy in the stock exchanges of Shanghai, Shenzhen and Hong Kong over the period 1994 to 2010. Our results show that there are significantly large momentum returns for Shanghai and Hong Kong but small and insignificant momentum returns for Shenzhen. However, the momentum trading generates negative returns for all markets during the Global Financial Crisis; it appears that the momentum trading strategy fails during a financial or stock market crisis and especially in the months when the market conditions improve. We find no significant relationship between momentum returns and market states, which contradicts the results of an earlier study conducted in the U.S. market. Instead of market state it appears that it is economic activity that explains momentum returns.

text: Momentum returns, market states and financial crises. Evidence from China and Hong Kong This chapter investigates the profitability of the momentum trading strategy in the stock exchanges of Shanghai, Shenzhen and Hong Kong over the period 1994 to 2010. Our results show that there are significantly large momentum returns for Shanghai and Hong Kong but small and insignificant momentum returns for Shenzhen. However, the momentum trading generates negative returns for all markets during the Global Financial Crisis; it appears that the momentum trading strategy fails during a financial or stock market crisis and especially in the months when the market conditions improve. We find no significant relationship between momentum returns and market states, which contradicts the results of an earlier study conducted in the U.S. market. Instead of market state it appears that it is economic activity that explains momentum returns.

year: 2017

title: The Late Miocene Southern and Central Taranaki Inversion Phase (SCTIP) and related sequence stratigraphy and paleogeography

authors: Vonk, Adam J.

subjects: Sequence stratigraphy

abstract: We present a new sequence stratigraphic scheme for Taranaki Basin that identifies four 3rd order duration (3 - 4 m.y.) sequences of Middle Miocene to Pleistocene age. These include: (i) the late-Middle Miocene (upper Lillburnian to uppermost Waiauan) Otunui Sequence; (ii) the Late Miocene (lower and lowermost-upper Tongaporutuan) Mt Messenger Sequence; (iii) the latest Miocene (uppermost-upper Tongaporutuan) to Early Pliocene (lower Opoitian) Matemateaonga Sequence, and (iv), the Late Pliocene (upper Opoitian) to Late Pleistocene (Castlecliffian) Rangitikei Sequence, which includes the Giant Foresets Formation offshore in northern Taranaki Basin. Full sequence development can be observed in the parts of these four sequences exposed on land in eastern Taranaki Basin and in Wanganui Basin, including the sequence boundaries and component systems tracts; the character of the various depositional systems and their linkage to correlatives in subsurface parts of Taranaki Basin can be reasonably inferred, although we do not develop the detail here. Our sequence framework, with its independent age control, is integrated with established evidence for the timing of Late Miocene structure development in southern Taranaki (the Southern Inversion Zone of King & Thrasher (1996)) and new evidence presented here for the extent of Late Miocene unconformity development in central Taranaki. This shows that the Mt Messenger Sequence, particularly its regressive systems tract, results from a major phase of tectonism in the plate boundary zone, the crustal shortening then extending into the basin at c. 8.5 Ma and differentially exhuming parts of the sequence and underlying units in southern and central Taranaki Basin. This Southern and Central Taranaki Inversion Phase (SCTIP) peaked at around 7.5 Ma (mid-upper Tongaporutuan). At that time it extended across the whole of the area presently covered by Wanganui Basin, all of southern Taranaki Basin (Southern Inversion Zone), west to the Whitiki and Kahurangi Faults, and across southern parts of Taranaki Peninsula. We have also identified in outcrop sections, wireline logs for Peninsula exploration holes, and selected seismic reflection profiles, the occurrence of forced regressive deposits of the Mt Messenger Sequence. These deposits are mainly preserved beneath distal parts of the unconformity and basinward of it in central Taranaki Peninsula and west to the Tui Field, and need to be distinguished from the much younger Giant Forests Formation within the 3rd-order Rangitikei Sequence, which also shows clinoform development. The new sequence framework with its inferred stratal patterns also helps clarify understanding of the lithostratigraphic nomenclature for Late Miocene – Pliocene units beneath Taranaki Peninsula.

text: The Late Miocene Southern and Central Taranaki Inversion Phase (SCTIP) and related sequence stratigraphy and paleogeography We present a new sequence stratigraphic scheme for Taranaki Basin that identifies four 3rd order duration (3 - 4 m.y.) sequences of Middle Miocene to Pleistocene age. These include: (i) the late-Middle Miocene (upper Lillburnian to uppermost Waiauan) Otunui Sequence; (ii) the Late Miocene (lower and lowermost-upper Tongaporutuan) Mt Messenger Sequence; (iii) the latest Miocene (uppermost-upper Tongaporutuan) to Early Pliocene (lower Opoitian) Matemateaonga Sequence, and (iv), the Late Pliocene (upper Opoitian) to Late Pleistocene (Castlecliffian) Rangitikei Sequence, which includes the Giant Foresets Formation offshore in northern Taranaki Basin. Full sequence development can be observed in the parts of these four sequences exposed on land in eastern Taranaki Basin and in Wanganui Basin, including the sequence boundaries and component systems tracts; the character of the various depositional systems and their linkage to correlatives in subsurface parts of Taranaki Basin can be reasonably inferred, although we do not develop the detail here. Our sequence framework, with its independent age control, is integrated with established evidence for the timing of Late Miocene structure development in southern Taranaki (the Southern Inversion Zone of King & Thrasher (1996)) and new evidence presented here for the extent of Late Miocene unconformity development in central Taranaki. This shows that the Mt Messenger Sequence, particularly its regressive systems tract, results from a major phase of tectonism in the plate boundary zone, the crustal shortening then extending into the basin at c. 8.5 Ma and differentially exhuming parts of the sequence and underlying units in southern and central Taranaki Basin. This Southern and Central Taranaki Inversion Phase (SCTIP) peaked at around 7.5 Ma (mid-upper Tongaporutuan). At that time it extended across the whole of the area presently covered by Wanganui Basin, all of southern Taranaki Basin (Southern Inversion Zone), west to the Whitiki and Kahurangi Faults, and across southern parts of Taranaki Peninsula. We have also identified in outcrop sections, wireline logs for Peninsula exploration holes, and selected seismic reflection profiles, the occurrence of forced regressive deposits of the Mt Messenger Sequence. These deposits are mainly preserved beneath distal parts of the unconformity and basinward of it in central Taranaki Peninsula and west to the Tui Field, and need to be distinguished from the much younger Giant Forests Formation within the 3rd-order Rangitikei Sequence, which also shows clinoform development. The new sequence framework with its inferred stratal patterns also helps clarify understanding of the lithostratigraphic nomenclature for Late Miocene – Pliocene units beneath Taranaki Peninsula.

year: 2008

title: Mana Wahine reworking the power to name taonga

authors: Ringham, Sandra Lee

abstract: The capacity of Indigenous peoples to officially name taonga species (flora and fauna) within taxonomy signifies resilience and a reworking of western scientific processes and institutions. This article explores the ways in which Ngāti Kuri women contribute to environmental justice through the naming of taonga species. Ngāti Kuri were the first tribe in the world to install a tribal name into the co-authorship of a nomenclature. The article explores the ways in which Ngāti Kuri women, both past and present, rework environmental relationships and knowledge in both tribal and non-tribal spaces in Aotearoa's most northern region.

text: Mana Wahine reworking the power to name taonga The capacity of Indigenous peoples to officially name taonga species (flora and fauna) within taxonomy signifies resilience and a reworking of western scientific processes and institutions. This article explores the ways in which Ngāti Kuri women contribute to environmental justice through the naming of taonga species. Ngāti Kuri were the first tribe in the world to install a tribal name into the co-authorship of a nomenclature. The article explores the ways in which Ngāti Kuri women, both past and present, rework environmental relationships and knowledge in both tribal and non-tribal spaces in Aotearoa's most northern region.

year: 2023-01-01