A-shares see just a slight in­crease

China Daily (USA) - - TOP NEWS - By WUYIYAO in Shang­hai wuyiyao@chi­nadaily.com.cn

The A-share mar­ket closed with a slight gain on Wed­nes­day, after profit-tak­ing as au­thor­i­ties an­nounced third-quar­ter macro data that re­flected over­all eco­nomic re­cov­ery, said an­a­lysts.

En­cour­aged by the pos­i­tive trends re­flected in the data re­leased by the Na­tional Bureau of Sta­tis­tics on Wed­nes­day, the A-share mar­ket opened high. But it closed less than 0.1 per­cent higher than Tues­day after profit-tak­ing in the af­ter­noon.

The Shang­hai Com­pos­ite Index rose by 0.03 per­cent to 3,085.32 points, while the Shen­zhen Com­po­nent Index fell by 0.36 per­cent to 10,757.92 points.

We ex­pect re­bal­anc­ing to con­tinue at a sim­i­lar grad­ual pace in the next two years.”

Marie Diron, as­so­ciate man­ag­ing di­rec­tor at Moody’s In­vestors Ser­vice

Re­new­able-power com­pa­nies led with gains of more than 3.4 per­cent across the sec­tor. The share price of CECEP Wind Power Corp gained 10 per­cent to 10.62 yuan ($1.58), and the share price of Sichuan Min­jiang Hy­dropower Co rose by 8 per­cent to 12.93 yuan.

Elec­tron­ics and in­for­ma­tion com­pa­nies saw the most losses. Shang­hai Amar­soft In­for­ma­tion Tech­nol­ogy fell by 3.69 per­cent to 46.5 yuan, and Xi­a­men Prima Elec­tron­ics Co lost 4.42 per­cent to close at 10.8 yuan per share.

“Eco­nomic re­bal­anc­ing is con­tin­u­ing grad­u­ally, with the share of ser­vices in the to­tal GDP ris­ing to 52.8 per­cent, 13.3 (per­cent­age points) higher than in­dus­try, and fi­nal con­sump­tion, pub­lic and pri­vate, con­tribut­ing 71 per­cent to the head­line GDP growth,” said Marie Diron, as­so­ciate man­ag­ing di­rec­tor at Moody’s In­vestors Ser­vice. “We ex­pect re­bal­anc­ing to con­tinue at a sim­i­lar grad­ual pace in the next two years.”

Wed­nes­day’s A-share per­for­mance sent a sig­nal that there is no solid ra­tio­nale be­hind con­sis­tent down­ward per­for­mance in China’s stock mar­ket, be­cause the over­all pic­ture is pos­i­tive and in­vestors have rea­son to be op­ti­mistic, al­though fluc­tu­a­tions re­main, ac­cord­ing to a re­search note from CITIC Se­cu­ri­ties.

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