Chinese Stock Market’s Reaction to COVID-19 in the Short and Long Run

Table 3

AR, CAR, and t-statistics for food and major supplies retail.

Date	AR (%)	t-stat	CAR (%)	t-stat	Date	AR (%)	t-stat	CAR (%)	t-stat
−5	−0.81	−1.17	−0.81	−1.17	6	−0.44	−0.63	2.58	1.07
−4	−0.41	−0.58	−1.22	−1.24	7	2.26	3.25	4.84	1.93
−3	0.20	0.29	−1.02	−0.84	8	0.26	0.38	5.10	1.96
−2	−0.37	−0.54	−1.39	−1.00	9	3.18	4.58	8.28	3.08
−1	0.48	0.69	−0.91	−0.58	10	−2.38	−3.42	5.91	2.12
0	−0.27	−0.38	−1.17	−0.69	30	−0.11	−0.15	10.09	2.42
1	−1.31	−1.89	−2.49	−1.35	60	3.39	4.88	24.34	4.31
2	0.73	1.05	−1.76	−0.89	90	−1.98	−2.85	21.32	3.13
3	−0.26	−0.38	−2.02	−0.97	120	−0.20	−0.28	24.45	3.13
4	3.19	4.59	1.17	0.53	160	0.50	0.71	16.43	1.83
5	1.85	2.66	3.02	1.31	230	0.28	0.41	−1.32	−0.12