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Investors bite their nails over second-quarter GDP
By Wang Xian |
July 11, 2012, Wednesday
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Online Edition
Online Edition
DISMAL economic performance plus weak market demand has raised concerns among investors about the second-quarter GDP data to be released on Friday, analysts said.
The slowest growth of China's Consumer Price Index in June has raised concerns about the second-quarter economic data to be released on Friday, said Zhou Jing, head of the strategy department of Fortune SG Fund Management Co.
"Investors fear that further asymmetrical cut in interest rates may hurt banks' earnings and lead to a slump of banks. They are also worried about more stringent measures as the government strives to suppress housing price rebound. Stock markets will undergo fluctuations in the short term," Zhou said.
The National Bureau of Statistics showed that China's CPI rose 2.2 percent in June from a year earlier, the slowest pace in 29 months while its Production Price Index fell 2.1 percent from a year earlier. Imports also grew at a slower pace last month, creating a larger trade surplus.
The slowest growth of China's Consumer Price Index in June has raised concerns about the second-quarter economic data to be released on Friday, said Zhou Jing, head of the strategy department of Fortune SG Fund Management Co.
"Investors fear that further asymmetrical cut in interest rates may hurt banks' earnings and lead to a slump of banks. They are also worried about more stringent measures as the government strives to suppress housing price rebound. Stock markets will undergo fluctuations in the short term," Zhou said.
The National Bureau of Statistics showed that China's CPI rose 2.2 percent in June from a year earlier, the slowest pace in 29 months while its Production Price Index fell 2.1 percent from a year earlier. Imports also grew at a slower pace last month, creating a larger trade surplus.
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