Launch of derivatives likely to boost index
By Ding Yining |
March 22, 2010, Monday
|
Print Edition
Print Edition
THE pending launch of stock index futures and margin trading is likely to help the Shanghai stock market to continue its upward momentum, according to some brokerages.
"Financial shares and brokerages are expected to give the index a boost with the launch of margin trading and index futures in the near future," Huatai Securities wrote in a research report.
Investors expect the barometer also to get a lift from improved earnings results by listed companies, the report added.
The benchmark Shanghai Composite Index closed at 3,067.75 last Friday. The gauge gained a total of 1.92 percent last week.
The China Securities Regulatory Commission has approved six brokerages, including Guotai Jun'an Securities, Everbright Securities and Haitong Securities, as pioneers to conduct margin trading on a trial basis.
"In the long run, the market is still concerned with tightening liquidity and a possible interest rate rise, so there will be small fluctuations and investor sentiment will be mixed," the report said. Zhou Xu, an analyst at Nanjing Securities, forecast the index to stay "between 3,000 and 3,100 points this week with no significant movement in macroeconomic policies."
"Financial shares and brokerages are expected to give the index a boost with the launch of margin trading and index futures in the near future," Huatai Securities wrote in a research report.
Investors expect the barometer also to get a lift from improved earnings results by listed companies, the report added.
The benchmark Shanghai Composite Index closed at 3,067.75 last Friday. The gauge gained a total of 1.92 percent last week.
The China Securities Regulatory Commission has approved six brokerages, including Guotai Jun'an Securities, Everbright Securities and Haitong Securities, as pioneers to conduct margin trading on a trial basis.
"In the long run, the market is still concerned with tightening liquidity and a possible interest rate rise, so there will be small fluctuations and investor sentiment will be mixed," the report said. Zhou Xu, an analyst at Nanjing Securities, forecast the index to stay "between 3,000 and 3,100 points this week with no significant movement in macroeconomic policies."
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