A Test for Normal Distribution and The Statistical Measures of Distribution for the Malaysian Stock Prices

Othman Yong


This paper attempts to explore the nature of price changes for the Malaysian Stocks. A non-parametric test called the Kolmogorav-Smirnov one sample goodness-of-fir was used to determine whether or not the price changes of the Malaysian stocks conform to the normal distribution. This test proved conclusively that the price changes of the Malaysian stocks are non-normal, thus substantianting the results of tests performed on other stock markets in the developed countries. In addition, statistical measures such as mean, standard deviation, skewness and kurtosis were used to further describe the distributional nature of the price changes for these stocks.


Kertas kajian ini cuba mendalami tentang tabii perubahan harga bagi saham-saham Malaysia. Satu ujian "non-parametric" bernama Kolmogorav-Smirnov telah digunakan untuk menentukan sama ada perubahan- perubahsn harga bagi saham-saham Malaysia mempunyai taburan normal. (Ujian ini membuktikan bahawa sesungguhnya perubahan harga bagi saham-saham Molaysia tidak bertaburan normal, oleh itu menyokong keputusan-kepurusul yang didapati bagi ujian'ujian yang dilakukan pada pasaran-pasaran saham di negara-negsra yang telah maju. selain dari itu, ukuran-ukuron statistik seperti purata, sisihan piawai, "skewness", dan kurtosis digunokan untuk menerangkan dengan lebih lanjut lagi tentang tsbii taburan perubahan harga bagi saham-saham ini,

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