Index may start Year of the Dragon bullishly
By Lu Nengneng |
January 30, 2012, Monday
|
Print Edition
Print Edition
SHANGHAI'S stock market may start the Year of the Dragon on a bullish note amid an improving liquidity situation although investors will keep a wary eye on the deteriorating European debt crisis, market watchers said.
After a week-long Spring Festival break the Shanghai Composite Index, which closed 1 percent up at 2,319.12 on January 20, is set to keep rising with renewed optimism over China's economy.
Chen Ruiming, an analyst at Haitong Securities, said investors expect more liquidity to be injected into the market in the first quarter of this year.
Lu Zhengwei, chief economist at Industrial Bank, said the People's Bank of China may cut the bank reserve requirement ratio in February to ease the money crunch.
But observers also warned of a global financial turbulence following the escalating sovereign debt crisis of the European Union.
After a week-long Spring Festival break the Shanghai Composite Index, which closed 1 percent up at 2,319.12 on January 20, is set to keep rising with renewed optimism over China's economy.
Chen Ruiming, an analyst at Haitong Securities, said investors expect more liquidity to be injected into the market in the first quarter of this year.
Lu Zhengwei, chief economist at Industrial Bank, said the People's Bank of China may cut the bank reserve requirement ratio in February to ease the money crunch.
But observers also warned of a global financial turbulence following the escalating sovereign debt crisis of the European Union.
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