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Stock markets seen 'stable' during Party Congress

(China Daily)

10:01, November 08, 2012

China's stock markets will likely not be affected by the upcoming 18th National Congress of the ruling Communist Party of China, a survey said on Wednesday.

Only 27 percent of the surveyed fund managers said that they expect bullish markets during the Congress, which is scheduled to open in Beijing on Thursday, according to a survey of nearly 50 equity fund managers carried out by, a domestic financial website.

Thirty-five percent of the fund managers surveyed said that they don't expect any big changes in the stock markets during the Congress because the markets are mainly related to the economic situation, which hasn't shown any signs of improvement recently.

The remaining 38 percent said that they were not sure about the markets' performance during the Congress.

The Shanghai Composite Index closed on Wednesday at 2105.73 with a slight decline of 0.01 percent.

Jiang Guodong, president of investment at Guan Xiang Capital, a domestic hedge fund, said that although the historical data is optimistic for the markets in November, he expects overall stable markets during the Congress.

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