Stocks seen stable
By Cathy Ding |
April 5, 2010, Monday
|
Print Edition
Print Edition
SHANGHAI stocks are set to remain stable this week with little change in macroeconomic policies while continuing signs of economic recovery are expected to raise investor confidence, market watchers said.
The Shanghai Composite Index gained a total of 2.66 percent last week to close at 3,157.96. "The launch of derivatives, including margin trading and index futures, will give blue chips and heavily weighted shares a boost and the market will generally stay stable as the central bank's monetary policy committee has reiterated its stance to maintain the stable monetary policy," Qian Qimin, an analyst at Shenyin & Wanguo Securities, wrote in a note.
The purchasing managers' index, an indicator for economic activity, rose to 55.1 in March from 52.0 in February, the 13th consecutive month of growth in China.
"Investors are more confident in the economic recovery," Galaxy Securities' analyst Yi Xiaobin said. "It may take a while for the index to climb above 3,200 points but improved earnings of listed companies will provide solid support for the market."
The Shanghai Composite Index gained a total of 2.66 percent last week to close at 3,157.96. "The launch of derivatives, including margin trading and index futures, will give blue chips and heavily weighted shares a boost and the market will generally stay stable as the central bank's monetary policy committee has reiterated its stance to maintain the stable monetary policy," Qian Qimin, an analyst at Shenyin & Wanguo Securities, wrote in a note.
The purchasing managers' index, an indicator for economic activity, rose to 55.1 in March from 52.0 in February, the 13th consecutive month of growth in China.
"Investors are more confident in the economic recovery," Galaxy Securities' analyst Yi Xiaobin said. "It may take a while for the index to climb above 3,200 points but improved earnings of listed companies will provide solid support for the market."
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