Property shares likely to be flat
By Ding Yining |
April 19, 2010, Monday
|
Print Edition
Print Edition
PROPERTY shares on the Shanghai stock market are expected to be flat this week as Chinese government measures to curb surging real estate prices may continue to cast a shadow over investors, according to market watchers.
The Shanghai Composite Index lost 0.5 percent last week to close at 3,130.3.
"The central government's crackdown on galloping property prices will continue to have an impact on real estate shares as well as related sectors such as steel makers and construction companies," said Teng Yin, an analyst at Everbright Securities.
Blue chips are also not likely to perform spectacularly, said Qian Qimin, an analyst at Shenyin and Wanguo Securities.
"The benchmark index is likely to stay between 3,100 and 3,200 points this week," Qian said.
The Shanghai Composite Index lost 0.5 percent last week to close at 3,130.3.
"The central government's crackdown on galloping property prices will continue to have an impact on real estate shares as well as related sectors such as steel makers and construction companies," said Teng Yin, an analyst at Everbright Securities.
Blue chips are also not likely to perform spectacularly, said Qian Qimin, an analyst at Shenyin and Wanguo Securities.
"The benchmark index is likely to stay between 3,100 and 3,200 points this week," Qian said.
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