Rebound for stocks seen this week
By Ding Yining |
February 1, 2010, Monday
|
Print Edition
Print Edition
THE Shanghai stock market is likely to rebound this week after having declined more than 4 percent last week, analysts said.
"The short-term correction has come to an end and the market is likely to rebound this week," said Qian Qimin, an analyst at Shenyin & Wanguo Securities.
Qian added that a slight adjustment in the monetary policy is reasonable and that the government will not exit from the stimulus measures before the real economy sees recovery and a solid growth.
The benchmark Shanghai Composite Index posted the biggest weekly loss in two months last week and closed at 2,989.29 last Friday and brought the monthly loss to 8.78 percent. The gauge dropped 4.45 percent in the previous week.
China raised banks' reserve ratio by 0.5 percentage points to 16 percent on January 18 in an effort to curb liquidity, fanning investor concern that more liquidity tightening measures will follow and dry up capital in the market.
"Investors have to remain cautious about macroeconomic policies as the government is seeking ways to strike a balance between economic recovery and inflation risks," Pacific Securities wrote in a research note.
"The short-term correction has come to an end and the market is likely to rebound this week," said Qian Qimin, an analyst at Shenyin & Wanguo Securities.
Qian added that a slight adjustment in the monetary policy is reasonable and that the government will not exit from the stimulus measures before the real economy sees recovery and a solid growth.
The benchmark Shanghai Composite Index posted the biggest weekly loss in two months last week and closed at 2,989.29 last Friday and brought the monthly loss to 8.78 percent. The gauge dropped 4.45 percent in the previous week.
China raised banks' reserve ratio by 0.5 percentage points to 16 percent on January 18 in an effort to curb liquidity, fanning investor concern that more liquidity tightening measures will follow and dry up capital in the market.
"Investors have to remain cautious about macroeconomic policies as the government is seeking ways to strike a balance between economic recovery and inflation risks," Pacific Securities wrote in a research note.
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