CHINESE mainland yuan-backed A shares have nearly quintupled in the past two and a half years, thanks to sustained capital inflows and improved corporate earnings.
However, the market started to encounter bigger volatility in the second half of this year amid jitters over inflated valuations and a possible economic slowdown.
Shanghai Daily business reporters will do a series of yearend stories over listed companies’ profit prospects and business environment in 2008 by industry.
Today, metals and energy reporter Fu Chenghao brings the second piece of his insight over the country’s steel makers and factors that might affect their earnings growth in 2008. Tomorrow, our securities reporter Wang Yanlin will explore what will likely happen to domestic brokerages as the market opens wider to foreign investors.