Smaller decline expected for stocks
By Rich Zhu |
April 26, 2010, Monday
|
Print Edition
Print Edition
SHARES in China will probably drop by a smaller margin this week, after they fell by the biggest weekly decline in five months last Friday because of the Chinese government's strict measures to regulate the property market, analysts said.
Blue chips, from real estate firms to property-related shares such as banks and steel makers, will face pressure but opportunities for a rebound are seen in sectors dealing with consumers, high-tech and new energy shares, they said.
Last week, the Shanghai Composite Index lost 4.7 percent to close at 2,983.54, the biggest weekly decline since November. The decline occurred due to a policy released last week by the State Council, or China's Cabinet, which required a higher downpayment for second homes and suspended banks from granting mortgages for third homes.
The barometer is seen to range from 2,800 to 3,050 this week, according to analysts.
Although the market has been in a downward path, the index is not expected to drop by a big margin like it did last week, according to Teng Ying, an Everbright Securities analyst.
Qian Qimin, a Shenyin & Wanguo Securities analyst, forecast that investors may eye likely hot stocks such as those related to the World Expo which opens on Saturday.
Investors should also look at opportunities in new energy and high-tech firms this week after energy shares gained last Friday, analysts said.
China will support the development of the new energy sector by 2020 to partly replace fossil energy sources, such as coal.
Blue chips, from real estate firms to property-related shares such as banks and steel makers, will face pressure but opportunities for a rebound are seen in sectors dealing with consumers, high-tech and new energy shares, they said.
Last week, the Shanghai Composite Index lost 4.7 percent to close at 2,983.54, the biggest weekly decline since November. The decline occurred due to a policy released last week by the State Council, or China's Cabinet, which required a higher downpayment for second homes and suspended banks from granting mortgages for third homes.
The barometer is seen to range from 2,800 to 3,050 this week, according to analysts.
Although the market has been in a downward path, the index is not expected to drop by a big margin like it did last week, according to Teng Ying, an Everbright Securities analyst.
Qian Qimin, a Shenyin & Wanguo Securities analyst, forecast that investors may eye likely hot stocks such as those related to the World Expo which opens on Saturday.
Investors should also look at opportunities in new energy and high-tech firms this week after energy shares gained last Friday, analysts said.
China will support the development of the new energy sector by 2020 to partly replace fossil energy sources, such as coal.
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