Index to stay weak on jittery investors
By Lydia Chen |
May 9, 2011, Monday
|
Print Edition
Print Edition
SHANGHAI'S stock market is expected to perform weakly this week as investors will likely remain cautious ahead of the release of economic data.
The Shanghai Composite Index lost 1.64 percent, the third consecutive week it had fallen, influenced by a decline in commodity prices in world markets that also dampened energy and raw-material related shares in the local bourse.
There is very little likelihood of a rebound across the board as investors will be cautious ahead of the release of China's April economic data on Wednesday, according to analysts.
The gauge may fall below 2,800 points from the 2,863.89 it closed last Friday, Southwest Securities Co said in a note.
The central government is under pressure to impose more monetary tightening measures as exports are likely to rebound sharply, which may help turn a rare trade deficit in March to a surplus in April, the brokerage said.
Shanghai-based Shenyin Wanguo Securities Co suggested investors keep a close eye on shares that might benefit from an expected large-scale power shortage across the country this summer.
The shortage will affect north, east and southeast China, which will hit output of cement, non-ferrous metals and chemical raw materials and caused their prices to rise, the brokerage said.
The Shanghai Composite Index lost 1.64 percent, the third consecutive week it had fallen, influenced by a decline in commodity prices in world markets that also dampened energy and raw-material related shares in the local bourse.
There is very little likelihood of a rebound across the board as investors will be cautious ahead of the release of China's April economic data on Wednesday, according to analysts.
The gauge may fall below 2,800 points from the 2,863.89 it closed last Friday, Southwest Securities Co said in a note.
The central government is under pressure to impose more monetary tightening measures as exports are likely to rebound sharply, which may help turn a rare trade deficit in March to a surplus in April, the brokerage said.
Shanghai-based Shenyin Wanguo Securities Co suggested investors keep a close eye on shares that might benefit from an expected large-scale power shortage across the country this summer.
The shortage will affect north, east and southeast China, which will hit output of cement, non-ferrous metals and chemical raw materials and caused their prices to rise, the brokerage said.
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