Index may remain flat this week
By Ding Yining |
April 25, 2011, Monday
|
Print Edition
Print Edition
THE Shanghai stock market is likely to remain rather flat this week as investors are still cautious over what other measures the Chinese government may implement to battle stubbornly high inflation, according to market watchers.
The Shanghai Composite Index dropped 1.3 percent last week to close at 3,010.52 points on Friday, the biggest weekly decline since the five days ended January 21.
"Investors will remain rather cautious amid fears spending cuts in the United States' Federal budget to trim its deficit may damp economic growth,'' Rising Securities' research note said.
The brokerage also cautioned that rising raw material prices may curb China's economic output and that higher inflation may signal an even tighter monetary policy from the government in the second quarter.
Shenyin Wanguo Securities analyst Qian Qimin suggests that the market may get a boost from companies reporting better earnings.
"Although concerns about tighter monetary policy may not fade in the short term, better-than-expected first quarter earnings reports by companies may push up the market in the short term," Qian wrote in a report.
The Shanghai Composite Index dropped 1.3 percent last week to close at 3,010.52 points on Friday, the biggest weekly decline since the five days ended January 21.
"Investors will remain rather cautious amid fears spending cuts in the United States' Federal budget to trim its deficit may damp economic growth,'' Rising Securities' research note said.
The brokerage also cautioned that rising raw material prices may curb China's economic output and that higher inflation may signal an even tighter monetary policy from the government in the second quarter.
Shenyin Wanguo Securities analyst Qian Qimin suggests that the market may get a boost from companies reporting better earnings.
"Although concerns about tighter monetary policy may not fade in the short term, better-than-expected first quarter earnings reports by companies may push up the market in the short term," Qian wrote in a report.
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