Top Biz News

Industrial Bank stock lower than predictions

By Zhang Lu (China Daily)
Updated: 2007-02-06 08:55

"The index may continue its weakness within a short period, as investors are withdrawing money from large caps, which are overvalued," said Zhang Qi, an analyst from Haitong Securities.

He added that the recent fall of the market has put pressure on fund managers, as investors tend to withdraw money from fund companies.

Turnover in ShanghaiA sharesshrank further, to only 54.1 billion yuan yesterday, down from 64.6 billion yuan on Friday.

"But other stocks (apart from large caps) will have a relatively good performance," Zhang said.

(China Daily 02/06/2007 page13)