Table 4 Summary Statistics (Zhengzhou Commodity Exchange)
From: The effect of nighttime trading of futures markets on information flows: evidence from China
Futures | Sample period | Mean | Std. | Skewness | Kurtosis | Eq. mean | Eq. var. |
|---|---|---|---|---|---|---|---|
White sugar | Pre-NT | 0.00007 | 0.0103 | −0.127** | 2.930*** | −0.66 | 1.21* |
Post-NT | 0.00056 | 0.0094 | −0.222 | 0.929*** | |||
PTA | Pre-NT | −0.00020 | 0.0127 | −0.275*** | 2.599*** | 0.43 | 1.17 |
Post-NT | −0.00060 | 0.0137 | −0.428** | 2.498*** | |||
No. 1 cotton | Pre-NT | −0.00018 | 0.0093 | −0.194*** | 7.749*** | 1.09 | 2.34*** |
Post-NT | −0.00068 | 0.0061 | −0.629*** | 3.093*** | |||
Rapeseed meal | Pre-NT | 0.00056 | 0.0103 | −0.027 | 1.061*** | 1.04 | 1.06 |
Post-NT | −0.00034 | 0.0106 | 0.120 | 0.247 | |||
Methanol | Pre-NT | −0.00026 | 0.0096 | 0.129 | 3.273*** | 0.67 | 2.25*** |
Post-NT | −0.00099 | 0.0144 | −0.836*** | 2.766*** | |||
Rapeseed oil | Pre-NT | −0.00022 | 0.0109 | −0.169*** | 8.676*** | 0.58 | 1.75*** |
Post-NT | −0.00074 | 0.0082 | −0.180 | 3.215*** | |||
Flat glass | Pre-NT | −0.00056 | 0.0095 | −0.042 | 0.539** | 0.27 | 1.13 |
Post-NT | −0.00085 | 0.0101 | −0.056 | 0.716 | |||
Thermal coal | Pre-NT | −0.00093 | 0.0071 | −0.263 | 2.721*** | 2.14** | 1.13 |
Post-NT | −0.00297 | 0.0076 | −0.628** | 2.189*** |