Key index seen to rebound slightly
By Ding Yining |
July 18, 2011, Monday
|
Print Edition
Print Edition
SHANGHAI stocks may rebound slightly this week as the overall market situation is set to remain stable, analysts said.
The key Shanghai Composite Index added 0.8 percent last week to close at 2,820.17 on Friday.
"There won't be very major policy shifts in the near future after the interest rate hike on June 6, and market sentiment is optimistic following the release of the (country's) moderate GDP growth in the second quarter," Shenyin & Wanguo Securities' senior analyst Qian Qimin wrote in a note at the weekend.
He forecast the index at 2,780 to 2,860 this week.
"There may not be a great advance since monetary policy will remain tight for a while to tame inflation," Qian added.
The slower 9.5 percent gross domestic product growth in the second quarter eased fears of an economic hard landing, official data released on Wednesday showed.
The key Shanghai Composite Index added 0.8 percent last week to close at 2,820.17 on Friday.
"There won't be very major policy shifts in the near future after the interest rate hike on June 6, and market sentiment is optimistic following the release of the (country's) moderate GDP growth in the second quarter," Shenyin & Wanguo Securities' senior analyst Qian Qimin wrote in a note at the weekend.
He forecast the index at 2,780 to 2,860 this week.
"There may not be a great advance since monetary policy will remain tight for a while to tame inflation," Qian added.
The slower 9.5 percent gross domestic product growth in the second quarter eased fears of an economic hard landing, official data released on Wednesday showed.
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