Calendar trading of Taiwan stock market: A study of holidays on trading detachment and interruptions

We analyze the influence of the Chinese lunar calendar and superstitions on holiday preferences using theories on time and mood to identify investor sentiment. Trading interruptions caused by Thursday holidays negative significantly influence investor sentiment for trust companies and individual investors. Trading detachment derived from cultural holidays in June positive significantly influences investor sentiment for dealers and individual investors. Trust companies and the market exhibit significantly positive sentiments toward winter holidays. The stock exchange indicates negative and positive sentiments toward winter holidays and holidays in January. Cultural holidays and superstition in Taiwan indicate strong support for holiday preferences in Asia.