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

Table 6

AR, CAR, and t-statistics for consumer durable goods and clothing industry.

Date	AR (%)	t-stat	CAR (%)	t-stat	Date	AR (%)	t-stat	CAR (%)	t-stat
−5	−0.47	−1.42	−0.47	−1.42	6	0.31	0.96	−2.54	−2.24
−4	−0.04	−0.11	−0.50	−1.08	7	0.01	0.03	−2.53	−2.14
−3	−0.04	−0.12	−0.54	−0.95	8	0.53	1.62	−2.00	−1.63
−2	−0.05	−0.14	−0.59	−0.89	9	−0.23	−0.72	−2.23	−1.76
−1	−0.10	−0.29	−0.68	−0.93	10	−0.22	−0.66	−2.45	−1.87
0	−0.22	−0.68	−0.91	−1.13	30	−1.41	−4.32	−0.08	−0.04
1	−0.20	−0.61	−1.11	−1.28	60	−0.14	−0.44	−5.97	−2.24
2	−1.38	−4.22	−2.49	−2.69	90	−0.44	−1.33	−7.92	−2.47
3	−0.04	−0.13	−2.53	−2.58	120	−0.10	−0.30	−13.22	−3.59
4	−0.12	−0.36	−2.65	−2.56	160	−0.16	−0.49	−10.58	−2.51
5	−0.20	−0.62	−2.85	−2.63	230	0.67	2.05	−14.89	−2.96