Weekly effect is a main anomaly which is relevant to Market Efficiency. This paper analyses the statistic characteristics of short\|term return in the two stock markets of China. We find that there exists a weekly effect partially due to the clearing system and information disclosure mechanism. However. comparing with other Asian stock markets, the effect is not very apparent.
Run test is a method to test the Weak Form Efficiency of Capital Market.This paper compares two methodologies introducing separately by Fama(1965) and Mood (1940).Then we test the efficiency of Chinese Stock Market.It should be pointed out that part of the Stock Market in China has been a Weak Form Efficient Market from the year 1993 on.
