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Chinese shares end up weak in the first three quarters
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DESPITE a daily rise today, Shanghai stocks shrank over the past week and became the worst performer in the global markets over the first three quarters.
Analysts said it was due to weak profitability in the mainland stock market, which can’t draw investors to pump capitals in.
The benchmark Shanghai Composite Index edged up 0.21 percent to 3004.7 points today, while for the past week it lost 0.96 percent. In the first three quarters of this year, Shanghai stock market suffered most across the world by losing 15.1 percent.
Trading remains dim as turnover in Shanghai bottomed over the past nine months at 112.8 billion yuan.
“Things haven’t turned around on the stock market on profitability,” Zhang Qi, an analyst at Haitong Securities, told Shanghai Daily. “It remains active with lack of capital inflows.”
The total trading fund in the mainland stock market was around 1.4 trillion yuan last week, far less than the end of last year when it was 1.88 trillion yuan
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