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China's Fund Market Moving within Corrections
China's domestic securities investment funds market moved within corrections on Friday, according to Homeway, China's leading on-line financial and securities advisory company.
Of 22 discounted funds, only Fund Jintai and Fund Yuyang advanced, with the rest either remaining unchanged or declining.
They mainly moved around previous close price levels. The trading volume of Fund Xinghe was clearly expanded, but those of most other funds were contracted.
As for restructured funds, Fund Jinding's placement expansion was approved, and its expansion prospectus was published. After its trading was resumed this afternoon, Fund Jinding went downwards, reflecting that some holders were reluctant to participate in the placement expansion.
Fund Tongzhi that had moved upwards strongly for two days opened low today, down 4.4 percent at the close, becoming the top loser today, followed by Fund Handing, Zhujiang, and Jinding, which were all restructured funds, down from 1.7 percent to 1.6 percent.
Another restructured fund Yuze, however, was the top gainer today. The market showed that restructured funds still moved in their own way.
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