FastSaying
Blue chips were sought after yesterday after the recent correction. But you will probably see the index move in a narrow range before any stimulus is launched to bolster the market.
Liu Yu
Correction
Will
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The market was still gathering momentum on heavy technical buying after a four-year slump. But you will probably see a correction soon as the 1,400 is a tough barrier.
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The market still faces pressure when it heads towards the 1,300 level. It may fluctuate in a narrow range this week, waiting for more stimulus from the regulator.
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The broad market has a good long-term prospect as there is an abundant supply of funds and on China's booming economic growth. But I expect the index may still move in a narrow range now as institutional investors unload some of their positions and buy others.
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Rosy earnings results spurred the market. But as firms with poor profit figures often unveil their results in late April, the index likely will face downward pressure.
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The stipulation indicates the regulator may resume initial public offerings in Shanghai in the first quarter of next year, probably sometime in February after the Spring Festival.
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