Shares may rise during annual session of NPC
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E-mail Shanghai Daily, March 5, 2012
The Shanghai market may rise this week during the annual session of the National People's Congress and Chinese People's Political Consultative Conference as investors expect that incentive measures to boost economic growth will be unveiled.
The Shanghai Composite Index added 0.9 percent to close at 2,460.69 last Friday and notched a seventh weekly gain for the longest winning streak since July 2009.
Qian Qimin, a senior analyst with Shenyin Wanguo Securities, said that the index will rise this week as investor sentiment is high.
Investors from both China and abroad are looking for policy indications at the annual sessions of the NPC and the CPPCC during which political, economic and livelihood issues will be discussed.
There is speculation the central government may introduce more measures to fuel growth during the sessions.
Meeting's effect on index
2011: The benchmark Shanghai Composite Index gained 18.9 points, or 0.65 percent, to 2,937.63 points;
2010: The index lost 60.69 points, or 1.97 percent, to 3,013.41 points;
2009: The index climbed 81.54 points, or 3.98 percent, to 2,128.75 points;
2008: The index plunged 654.8 points, or 15.14 percent, to 3,668.90 points;
2007: The index gained 102.8 points, or 3.64 percent, to 2,930.48 points;
2006: The index slid 25.57 points, or 1.99 percent, to 1,259.04 points.
