Weekly Review: China's A-share Markets

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Saturday, May 26, 2001, updated at 10:11(GMT+8)

Business

Weekly Review: China's A-share Markets

China's two A-share markets in Shanghai and Shenzhen were mixed most of this week on Monday ，Tuesday and Thursday and Friday.

Both A-share bourses declined on Wednesday. The Shanghai composite index created another new high at 2210.86 on Monday morning ， according to Homeway， a leading financial and securities advisory company in China.

Shanghai Composite Index edged down to close at 2193.58 points on Friday， 9.79 points less than last Friday's close at 2203.37 points， and the weekly turnover for A shares shrank to 66.41 billion yuan （US$8.02 billion ）， compared with the last week's total at approximately 73.81 billion yuan（US$8.9 billion）.

Shenzhen Composite Sub-index ended at 4831.99 points on Friday，33.74 points less than last Friday's close at 4865.73 points. The A-share weekly trading value increased to 44.01 billion yuan （US$5. 32 billion）， compared with the last week's total at approximately 42.37 billion yuan (US$5.12 billion).

There was one company debuting on the Shanghai Stock Exchange on Thursday. Sichuan Guodong Construction Co.， Ltd. （600321.SS ）debuted its 70 million A shares on the Shanghai bourse on Thursday morning.

The company ， which manufactures glass products， and glass- related machines and equipment， issued 70 million A shares at the issuing price of 12.28 yuan on March 16 2001. After the issuance，its capital stock totals 175 million A shares ， and net asset per share is 5.63 yuan. At the market close on Thursday， the company surged 110.02% to 25.79 yuan from its issuing price at 12.28 yuan.

At Monday close ， Hubei Qianjiang Pharmaceutical Co. ， Ltd（600568.SS）， which soared last Friday， slipped the most ， and Beijing Ufsoft Co. ， Ltd.（600588.SS ）， which also surged greatly last Friday， was among the top five decliners on the Shanghai losers' list ， and also dragged down other software shares. Beijing Ufsoft was the top loser at Thursday close.

Wednesday's A-share market declines may be mainly caused by three factors.

First ， investors felt pressures from market expansions， such as reduction of state-owned shares ， more new share issues and new share placement. Second ， investors felt concerned about the B- share market. Risks had come along with successive big rises on the B-share market， indicating that B-share corrections will drag A shares down. The third factor was technical pressure. A-share markets may need technical corrections.

The Shanghai composite index fell to 2181 points Friday afternoon and then edged up to lose a few points to end Friday's trade， while the Shenzhen composite sub-index moved in a similar trend as its Shanghai counterpart ， but edged up to be in the positive territory at Friday close.

Market outlook： The A-share markets are likely to fluctuate and consolidate next Monday.



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	China's two A-share markets in Shanghai and Shenzhen were mixed most of this week on Monday ，Tuesday and Thursday and Friday.




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