Rise in key index may peter out late in the week
By Lydia Chen |
April 11, 2011, Monday
|
Print Edition
Print Edition
SHANGHAI'S key stock index is expected to hover around 3,100 points for most of the week and may fall on Friday when China releases economic data, including the inflation figure and economic growth, according to analysts.
The Shanghai Composite Index may extend its four-day rise in the early part of this week to jump from 3,030.02 points it closed last Friday when blue chips and cyclical shares continued to benefit from their price correction, Xu Haiyang, an analyst at Rising Securities Co, said in a note.
But analysts warn that volatility is expected to hit the market on Friday when the nation's economic data for March and the first quarter are unveiled on Friday.
Many analysts predict inflation may reach as high as 5.2 percent in March, which could prompt the government to impose more tightening measures to combat price rises.
The data to be released on Friday may also show a slowdown in China's economy due to the tightening moves the government has already implemented, Xu said.
He suggested investors keep close tabs on resource-related and precious metals stocks for opportunities.
The Shanghai Composite Index may extend its four-day rise in the early part of this week to jump from 3,030.02 points it closed last Friday when blue chips and cyclical shares continued to benefit from their price correction, Xu Haiyang, an analyst at Rising Securities Co, said in a note.
But analysts warn that volatility is expected to hit the market on Friday when the nation's economic data for March and the first quarter are unveiled on Friday.
Many analysts predict inflation may reach as high as 5.2 percent in March, which could prompt the government to impose more tightening measures to combat price rises.
The data to be released on Friday may also show a slowdown in China's economy due to the tightening moves the government has already implemented, Xu said.
He suggested investors keep close tabs on resource-related and precious metals stocks for opportunities.
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