Analysis of the Impact of Internet Public Opinion on the Securities Market Based on Big Data

From the perspective of online public opinion, the impact of international financial emergencies on China’s securities market is explored to provide theoretical references and decision-making support for the risk control of public opinion regulators. The asymmetric effects of investor sentiment and investor attention on the securities market under extreme conditions are explored by constructing Quantile Vector Autoregressive model. The results show that Chinese securities market is more susceptible to investor sentiment; the impact of investor attention on China’s securities market returns is characterized by asymmetry; and the impacts of the two variables on the returns of the Chinese securities markets show a short-term growth and a long-term decay, but there are significant differences in their impacts in terms of the peaks and the response times.