Thursday, October 08, 2009

FOR THOSE WONDERING ABOUT THE SSEC

Holiday blues for stock index
[Date:09-29-2009]
Source: Shanghai Daily

SHANGHAI'S key stock index fell more than 2 percent yesterday to a four-week low after many investors cashed in at least part of their portfolios to reduce their exposure to risk during the eight-day National Day holiday that begins on Thursday. It is the longest scheduled equities-trading break among major markets in the world.
Market confidence is still unsettled by fears too many new share offers are coming to the bourses. The benchmark Shanghai Composite Index dropped 2.65 percent to 2,763.539 points.
Turnover shrank to 75.5 billion yuan (US$11.1 billion) from 81.1 billion yuan."The turnover kept shrinking, which indicated investors were increasingly cautious," said Zhang Fan, an analyst at Guangdong Foretech Investment Consultants Co.

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