Bourses mixed on first trading day of year yet outlook bright (3)

"After nearly three years of decline and consolidation, it is the turning point for the Chinese stock market, based on encouraging economic data from the last four months," Wang said.

Financial problems in the US and European Union are becoming less prominent, and growth will first be seen in finance and property-related stocks, gradually spreading to more industries, according toWang.

On Friday, new delisting procedures took effect on the Shanghai Stock Exchange as part of its efforts to promote delisting reform and better protect investors.

Two types of stocks will be traded on the newly launched risk alert board. One is shares carrying "ST" (special treatment) or "*ST" tags, which suffer losses for two consecutive years or more. The other type is stocks that enter delisting procedures.

Currently, a total of 23 stocks are capped with "ST" tags and another 20 carry "*ST" tags, with no stocks categorized as to-be-delisted, a source from the exchange said.

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