Replies to post #43194 on China Growth Stocks

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China Stocks Poised For Quick Rebound
14 minutes ago

(RTTNews) - The China stock market on Thursday saw an end to the two-day winning streak in which it had gathered more than 70 points or 2.8 percent. The Shanghai Composite Index finished just above the 2,560-point plateau, and now investors are looking for a quick turnaround when the market kicks off trade on Friday.

The global forecast for the Asian markets is broadly positive, thanks in part to surging commodity prices - particularly crude oil and natural gas. Technology stocks also are expected to provide support, along with financials. The European and U.S. markets finished sharply higher, and the Asian bourses are expected to follow suit.

The SCI finished modestly lower on Thursday, dragged to the downside by weakness from the financial stocks and property shares.

For the day, the index declined 21.29 points or 0.82 percent to finish at 2,562.58 after trading between 2,554.79 and 2,581.05. The Shenzhen Component Index shed 124.05 points or 1.2 percent to finish at 10,222.22 for a combined turnover of 167.53 billion yuan. Losers outnumbered gainers by 533 to 322 in Shanghai but gainers outnumbered losers by 524 to 409 in Shenzhen.

Among the decliners, China Vanke shed 2.1 percent, while China Merchants Property lost 3.1 percent, Shanghai Shi Mao fell 1.8 percent, Industrial and Commercial Bank of China declined 1.4 percent, Bank of China was down 2.2 percent, China Construction Bank eased 1.2 percent, Bank Of Nanjing plunged 4.14 percent, Bank of Beijing plummeted 4.16 percent, Shanghai Pudong Development Bank dropped 2.97 percent, China Pacific Insurance shed 2.84 percent, China Life lost 1.98 percent, Ping An Insurance was down 1.95 percent, Wuhan Iron and Steel declined 2.95 percent and Angang Steel was off 2.78 percent.