Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Finance

    Stocks edge up on mainland exchanges

    By Shi Jing in Shanghai | China Daily | Updated: 2019-10-09 09:00
    Share
    Share - WeChat
    An investor monitors stock prices on his phone at a stock brokerage in Shanghai. [Photo by Lyu Liang/For China Daily]

    Pharmaceutical, cement and building material firms among top gainers

    Equities closed higher on the mainland bourses on Tuesday, the first trading day after the National Day holiday, even as sentiment remained at a low ebb on most of the bourses in Europe and the United States.

    The benchmark Shanghai Composite Index rose by 0.29 percent to 2913.57 points, while the Shenzhen Component Index gained 0.3 percent to 9474.75 points.

    Cement and building material makers were the major gainers and rose by 2.26 percent on average on Tuesday, followed by agriculture, public utility and pharmaceutical companies, and commercial banks, according to Shanghai-based market tracker Wind Info.

    Yang Delong, chief economist at Shenzhen-based First Seafront Fund, said that the overseas markets fluctuated quite significantly during the seven-day National Holiday starting Oct 1. The Dow Jones industrial average dropped below 26,000 points on Oct 2, hitting its lowest point in a month. When the market closed on Oct 5, the Dow Jones industrial average dropped 0.92 percent in a week, while the Standard & Poor's shed 0.33 percent during the same period. The FTSE 100 index in the United Kingdom slumped by 3.65 percent during the first trading week in October, while the Hang Seng Index dropped by 0.52 percent in Hong Kong.

    Yang said that the adjustment in the overseas markets might theoretically lead to a slight decline in the first few trading days after the National Day holiday. But given the fact that the A-share market has gained enough tenacity, there is little possibility of prices falling sharply in the A-share market.

    More importantly, the offshore renminbi maintained its upward trend against the US dollar during the National Day holiday, and this will help boost the confidence of investors in A shares, said Yang.

    Based on the experiences over the past two decades, the possibility of the A-share market to report positive results will come at around 65 percent from the first trading day after the National Day holiday to Oct 15, according to a note from Guotai Junan Securities. As the A-share market has already adjusted before the holiday and shown upward tendency at the end of September, the impact from the overseas market during the holiday will be limited and the rebound of A shares can be expected, the note said.

    Zhang Yulong, chief strategist of China Securities, said that machinery, mechanical and electronic devices will be the sectors most likely to register increases after the holiday.

    Liu Fangxu, director of the mutual fund investment team at CIB Fund Management, said that there might be slight fluctuations in the A-share market in the fourth quarter of this year. But in the long term, the Chinese capital market is likely to witness a bullish trend, with consumption and technology assets becoming the theme of future investment.

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    波多野结衣中文字幕在线| 无码精品久久久天天影视| 日韩精品中文字幕无码一区| 精品久久久久久久久中文字幕| 精品久久久久久无码人妻蜜桃| 亚洲va无码专区国产乱码| 在线看片福利无码网址| 日本精品久久久久中文字幕| 中文字幕7777| 精品无码国产污污污免费网站国产| 日韩免费无码一区二区三区 | 播放亚洲男人永久无码天堂| 中文字幕人妻无码专区| 最近免费字幕中文大全| 久久久噜噜噜久久中文字幕色伊伊| 中文在线中文A| 一区二区三区无码高清| 成年无码av片在线| 久久亚洲AV成人无码国产| 亚洲AV永久无码精品成人| 伊人久久精品无码二区麻豆| 无码人妻丰满熟妇区BBBBXXXX| 最近中文字幕免费mv在线视频| 天堂а√中文最新版地址在线| 亚洲熟妇无码八V在线播放 | 亚洲AV无码AV男人的天堂不卡| 国产免费无码一区二区| 久久精品aⅴ无码中文字字幕不卡 久久精品aⅴ无码中文字字幕重口 | av无码一区二区三区| 久久久久久亚洲Av无码精品专口| 无码国产精品一区二区免费式芒果| 亚洲国产精品成人精品无码区在线| 久久精品aⅴ无码中文字字幕不卡| 日本高清不卡中文字幕免费| 亚洲中文字幕成人在线| 成人无码免费一区二区三区| 亚洲av无码成人黄网站在线观看| 日韩AV无码中文无码不卡电影| 麻豆aⅴ精品无码一区二区 | 亚洲AV中文无码乱人伦| 中文人妻av高清一区二区|