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Shares seen to stay bleak this week
By Xiao Lu |
September 26, 2011, Monday
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Print Edition
Print Edition
THE Shanghai stock market is likely to remain bleak this week because investors spooked by the recent plunge seen in global markets continue to be gloomy, while several initial public offerings may drain money from the other counters.
The Shanghai Composite Index lost 2 percent last week to close at 2,433.16, the lowest in more than 14 months, in a series of global market sell-offs last week.
The US Federal Reserve said risks to the economy have risen and concern grew that policymakers will fail to spur growth, according to Bloomberg News.
The pending IPOs this week also increased concern over liquidity. China Hydropower, with a plan to pull in 17.3 billion yuan starting Tuesday, will be listed this week in what may be the biggest IPO of the year.
The Shanghai Composite Index lost 2 percent last week to close at 2,433.16, the lowest in more than 14 months, in a series of global market sell-offs last week.
The US Federal Reserve said risks to the economy have risen and concern grew that policymakers will fail to spur growth, according to Bloomberg News.
The pending IPOs this week also increased concern over liquidity. China Hydropower, with a plan to pull in 17.3 billion yuan starting Tuesday, will be listed this week in what may be the biggest IPO of the year.
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