Large Medium Small |
Beijingequity investor Li Xiaowei is still confident about the Chinese stock market despite the freaky plunge last week. He hopes that the Fifth Session of the Tenth National People's Congress (NPC) will reassure him about the solidity of the bull market.
Chinese stocks jumped to a record high on the first trading day after the Lunar New Year break. But the next day the market witnessed its biggest single-day fall in a decade, plunging 8.8 percent.
The volatility of the market doesn't seem to put off most Chinese investors like Li. There was no sign in the stock or currency markets that investors were pulling large amounts of money out of the market.
Wang Yihan, a 60-year-oldShanghainative, is another shareholder who remains positive about Chinese stock. "Even at 3,000 points, I don't believe the Shanghai Composite Index has reached its peak."
"The performance of listed companies is good, and there is abundant money in the market. For investors, it's a good time to taste the fruit of the country's economic development," said Wang. Though he lost a packet last week, Wang doesn't plan to pull out of the stock market.
In the wake of government-led reforms aimed at pulling the Chinese equity market out of a long-running bear market, the country's stock markets surged 130 percent in 2006. With investors being rewarded generously, about 2.42 million new accounts were opened in Shanghai brokerage trading rooms, or 2.5 times the number for 2005.
分享按钮 |