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Stock index adjustment

SHANGHAI'S key stock index will undergo a short period of adjustment this week without changing its upward trend, analysts said.

The Shanghai Composite Index added 5.5 percent over the past week to end at 3,088.37 points.

"Most of the heavyweights hiked in the past week and investors are very likely to take profit," said Qian Qimin, an analyst at Shenyin and Wanguo Securities.

"There won't be enough liquidity in the market to support the strong performance in the following week."

China's securities regulator has given final approval to Sichuan Expressway Co to float shares on the Chinese mainland, the company said last Friday. It will be the first initial public offering on the Shanghai market for nine months.

"The market will remain uncertain with speculation there may be more companies to float shares," Wang Baolun, an analyst at Dong Xing Securities, said.


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