Index's rebound may not be significant
By Ding Yining |
December 19, 2011, Monday
|
Print Edition
Print Edition
THE Shanghai stock market may rebound slightly this week but generally it is expected to remain weak, according to market watchers.
"The index will not see a large rebound this week as it is approaching the year end and (the central government's) macroeconomic policy is expected to remain stable," Shenyin & Wanguo Securities' analyst Qian Qimin wrote in a note.
He estimated the index to hover between 2,200 and 2,280 points this week.
Galaxy Securities said in a report: "Overseas markets are still weak and consumer demand is slim so this week's rebound (in the local market) will be only technical and won't last very long."
The Shanghai Composite Index posted the sixth weekly loss after it declined 3.9 percent last week to close at 2,224.84 points on Friday. The gauge fell for six consecutive trading days before rallying 2 percent last Friday. It dropped to its lowest in three years to 2.180.89 points last Wednesday.
The National Development and Reform Commission, the country's top planning agency, said its top priority in 2012 is to maintain stable economic growth and also ensure reasonable expansion in investment.
Galaxy Securities said the central government reiterated at the recent annual economic conference its determination to grow the economy at a stable pace next year so that there will be a positive impact on the stock market.
"The index will not see a large rebound this week as it is approaching the year end and (the central government's) macroeconomic policy is expected to remain stable," Shenyin & Wanguo Securities' analyst Qian Qimin wrote in a note.
He estimated the index to hover between 2,200 and 2,280 points this week.
Galaxy Securities said in a report: "Overseas markets are still weak and consumer demand is slim so this week's rebound (in the local market) will be only technical and won't last very long."
The Shanghai Composite Index posted the sixth weekly loss after it declined 3.9 percent last week to close at 2,224.84 points on Friday. The gauge fell for six consecutive trading days before rallying 2 percent last Friday. It dropped to its lowest in three years to 2.180.89 points last Wednesday.
The National Development and Reform Commission, the country's top planning agency, said its top priority in 2012 is to maintain stable economic growth and also ensure reasonable expansion in investment.
Galaxy Securities said the central government reiterated at the recent annual economic conference its determination to grow the economy at a stable pace next year so that there will be a positive impact on the stock market.
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