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Bullish market sees strong investor sentiment

By Zhang Yu (China Daily)
Updated: 2007-01-26 09:53

China's stock market has continued to rise since its revival late last year, and investors are mostly positive despite concern that the bubble may burst.

A poll conducted by China Daily's website (m.ming7.cn) from January 10 to 18 showed investor sentiment is strong. According to the poll, 53.37 percent of the 1,334 respondents supported the prediction that "the domestic stock market is entering a 10-year bull run".

Meanwhile, 38.31 percent of those surveyed disagreed with this forecast. A further 8.32 percent said they had no comment.

The Shanghai and Shenzhen stock markets have been bullish since last September, triggered by the government relaxing its regulation on corporate investment and confidence-building among individual investors who are upbeat on China's economy.

The value of the two markets jumped more than 1 trillion yuan (US$129 billion) on December 9 with the trading debut of China Life Insurance Corp.

Xi Feng, a stock analyst from CITIC Securities, told China Daily: "Predicting the golden decade of China's bullish stock market is actually the same as predicting the continuous rise of China's economy."

"We agree that China's stock market will have a golden decade if China's GDP can keep an annual rise of 8 to 9 percent in the next 10 years," said Xi.

Some web commentators shared Xi's view. According to one netizen: "China's stock market will see a continuous upswing in the next decade due to strengthened inspection by the securities regulators and improved corporate fundamentals."

"The structure of China's stock market is being optimized. With reforms adopted by the government and market conditions further improved the delayed effects of last year's share reform can be fully realized."

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