Index breaks 3,000 barrier
(China Daily)Updated: 2007-02-27 09:15
"This is just a run-of-the-mill adjustment aimed at mopping up the monthly inflows from the strong trade surplus," said Jonathan Anderson, managing director of UBS Investment Research. "This is not something investors should spend any time worrying about."
Many third-generation concept stocks jumped yesterday on widespread expectation that the technology will be licensed soon. Eastcom, the largest listed company in the mobile communications sector, rose to its daily limit to close at 6.6 yuan. China Unicom rose 7 percent to close at 5.4 yuan.
"Many communication companies have been preparing for the introduction of the technology once the licenses are issued," said Zhang.
And some listed companies carrying out asset injection activities will continue to attract a lot of investment, analysts said.
(China Daily 02/27/2007 page14)
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