Key index to climb on expected new moves
By Joyce Pan |
March 1, 2010, Monday
|
Print Edition
Print Edition
CHINESE stocks are likely to rise this week as the market expects new stimulus measures during the top legislative and advisory sessions, analysts said.
The Shanghai Composite Index ended February with a gain of 2.1 percent and closed at 3,051.94, shored up by actively traded small chips. Analysts said the chips will continue to boost the index as they may benefit from new economic policies rolled out during the annual session of the Chinese People's Political Consultative Conference and the National People's Congress.
"Innovative and green industries such as smart grid, Internet, new energy, carbon recycling are most likely to get supporting policies at the session," said Chai Yongning, a S&E Securities Brokerage Co analyst.
Meanwhile, GF Securities wrote that "lenders will remain under pressure from financing plans to replenish capital while Ping An Insurance (Group) Co's previously locked-up shares, which will be tradable this week, will weigh on insurers."
The insurer will unlock 859.9 million shares today, equivalent to 11.5 percent of its total capital base.
The Shanghai Composite Index ended February with a gain of 2.1 percent and closed at 3,051.94, shored up by actively traded small chips. Analysts said the chips will continue to boost the index as they may benefit from new economic policies rolled out during the annual session of the Chinese People's Political Consultative Conference and the National People's Congress.
"Innovative and green industries such as smart grid, Internet, new energy, carbon recycling are most likely to get supporting policies at the session," said Chai Yongning, a S&E Securities Brokerage Co analyst.
Meanwhile, GF Securities wrote that "lenders will remain under pressure from financing plans to replenish capital while Ping An Insurance (Group) Co's previously locked-up shares, which will be tradable this week, will weigh on insurers."
The insurer will unlock 859.9 million shares today, equivalent to 11.5 percent of its total capital base.
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