Seasonal gains

摘要

Share prices can often be seen climbing towards the end of the year, and there is more to this than the season of good will. There is the obvious point that it is in many people's interests to push prices higher as the year draws to a close. It improves fund managers' figures for the year for one thing. There also tends to be money flowing into the markets towards the end of the year, as interest payments are invested and other money is locked-up in shares for tax purposes.