The index of Shenzhen market is more volatile than Shanghai, monthly excessive return rate is opposite between two markets Only a part of speculator could gain positive retum.
深圳市场股价指数本身的波动幅度要大于上海市场，而股价指数月度超额收益率的波动情况则相反；只有一部分投机者的投机收益为正；
The plan for the constrUction of urban rail transit must meet the demand of metropolis traffic, and achieve the purpose of Iow cost, high operation efficiency, and quick flnancial retum.
城市轨道交通建设规划首先要解决大城市交通的需求，并达到建设耗资低、运营效率高、见效快的目的。
We find that the momentum strategy based on 52 - week high is significantly profitable with an average monthly retum of 0.84% in Chinese stock market, which is more significant than US market.
本文发现基于52周前期股价高点构造的惯性策略在中国股市具有显著的盈利性，其月平均收益为0．84％，这一结果比美国市场更加明显。
We find that the momentum strategy based on 52 - week high is significantly profitable with an average monthly retum of 0.84% in Chinese stock market, which is more significant than US market.
本文发现基于52周前期股价高点构造的惯性策略在中国股市具有显著的盈利性，其月平均收益为0．84％，这一结果比美国市场更加明显。
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