Research issues of the international stock markets interrelation

The growth in the scale of international financial investment has become one of the clearest manifestations of the new financial reality. The article is devoted to identifying topical areas of research on the relationships and interdependencies between the stock markets of different countries. Studies on the temporal correlation between the stock markets of the countries of the world, factors and mechanisms of mutual influence between the stock markets, the intensity and scale of the impact of stock markets on each other were analyzed. Based on the examining of scientific publications, indicators, methodological approaches and methods used for such studies have been identified and systematized. Relationships identified on the basis of statistical material from different markets and time periods are described. Particular attention is paid to works devoted to the analysis of the interdependence of the Chinese stock market with other emerging and developed markets. The study confirmed the lack of consensus on the factors that form the relationship between markets and the mechanisms of its action. The relevance of studies that take into account the spatial proximity of stock markets is substantiated. It is concluded that the distance between markets, understood not only in a geographical sense, but in a broader sense, can make it possible to manage a portfolio of international financial investments based on multidimensional diversification.