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Declining or stagnant market predicted
By Cao Qian |
November 21, 2011, Monday
|
Print Edition
Print Edition
SHANGHAI stocks may remain flat or decline this week as it will take more time for the market to shake off its current weakness, analysts said.
The Shanghai Composite Index dropped 2.6 percent to 2,416.56 points last week, capping the largest weekly loss in a month after the International Monetary Fund expressed concerns about China's financial system and on fears that the worsening economy in Europe may hit Chinese exports.
Shenyin and Wanguo Securities noted: "Investors have become more cautious amid growing uncertainties in external markets while there also seems to be little positive news internally to support a significant rebound."
The brokerage forecast that the index will fluctuate between 2,350 and 2,450 points this week and suggested investors unload stocks during periodical rallies.
Everbright Securities shared the same view that without policy incentives from central government, the index is unlikely to rally.
The brokerage predicted that the index will hover between 2,330 and 2,400 points this week, but investors could look to certain sectors, such as liquor producers, as sales usually boom toward the end of a year.
The Shanghai Composite Index dropped 2.6 percent to 2,416.56 points last week, capping the largest weekly loss in a month after the International Monetary Fund expressed concerns about China's financial system and on fears that the worsening economy in Europe may hit Chinese exports.
Shenyin and Wanguo Securities noted: "Investors have become more cautious amid growing uncertainties in external markets while there also seems to be little positive news internally to support a significant rebound."
The brokerage forecast that the index will fluctuate between 2,350 and 2,450 points this week and suggested investors unload stocks during periodical rallies.
Everbright Securities shared the same view that without policy incentives from central government, the index is unlikely to rally.
The brokerage predicted that the index will hover between 2,330 and 2,400 points this week, but investors could look to certain sectors, such as liquor producers, as sales usually boom toward the end of a year.
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