Fengyuan Shi is a first year PhD student at Newcastle University. Previously he studied MSc International Economics and Finance in Newcastle University and was distinguished in credit risk modelling, corporate finance and financial derivatives. He was awarded 'the Best Student' prize at the end of his MSc degree. His research focuses on contagion effect in financial markets. He has a particular interest in shift contagion in financial markets and risk management. He is currently a Chartered Financial Analyst (CFA) Level 1 candidate.