Index gains for second week
By Ye Zhen |
October 13, 2012, Saturday
|
Print Edition
Print Edition
SHANGHAI stocks ended slightly higher yesterday after fluctuating between gains and losses amid cautious sentiment ahead of the release of economic data this weekend and next week.
The benchmark Shanghai Composite Index inched up 0.1 percent to settle at 2,104.93 points. The index gained for a second week by adding 0.9 percent this week.
Investors adopted a cautious attitude in preparation for the release of a set of economic indicators, including trade, inflation and GDP figures for last month and the third quarter, this weekend and next week.
China's economy may have expanded 7.5 percent year on year in the three months ending on September 30, according to the average forecast of 13 economists in a survey by Shanghai Securities News. That is slower than a growth of 7.8 percent in the second quarter.
"The short-term risks facing the stock market are the upcoming economic data and company earnings reports," Shenyin and Wanguo Securities said. "Market uncertainty tends to increase against the backdrop of an economic slowdown and deteriorating company profitability."
Publishers jumped on speculation that book sales will be boosted after Chinese writer Mo Yan won the 2012 Nobel Prize for Literature on Thursday. Shanghai Xinhua Media Co jumped by the daily limit of 10 percent to 6.23 yuan (99 US cents).
The benchmark Shanghai Composite Index inched up 0.1 percent to settle at 2,104.93 points. The index gained for a second week by adding 0.9 percent this week.
Investors adopted a cautious attitude in preparation for the release of a set of economic indicators, including trade, inflation and GDP figures for last month and the third quarter, this weekend and next week.
China's economy may have expanded 7.5 percent year on year in the three months ending on September 30, according to the average forecast of 13 economists in a survey by Shanghai Securities News. That is slower than a growth of 7.8 percent in the second quarter.
"The short-term risks facing the stock market are the upcoming economic data and company earnings reports," Shenyin and Wanguo Securities said. "Market uncertainty tends to increase against the backdrop of an economic slowdown and deteriorating company profitability."
Publishers jumped on speculation that book sales will be boosted after Chinese writer Mo Yan won the 2012 Nobel Prize for Literature on Thursday. Shanghai Xinhua Media Co jumped by the daily limit of 10 percent to 6.23 yuan (99 US cents).
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