Chinese investors hope for better in 2013
Updated: 2013-01-01 09:26
(Xinhua)
|
|||||||||||
BEIJING - Chinese investors agonized over underperforming stock markets this year but are hoping for better rewards in 2013 as analysts predict on economic recovery and market reforms.
|
A shareholder watches the information of the equity market in a brokerage office in Jiujiang city, east China's Jiangxi province, Dec 31, 2012. Chinese shares continued to rise on the last trading day of the year, with the benchmark Shanghai Composite Index gaining 1.61 percent, or 35.88 points, to end at 2,269.13 points on Monday. [Photo/Xinhua] |
The benchmark Shanghai Composite Index closed with a 3.17 percent tick-up, rallying 1.61 percent on the last trading day of 2012 to 2269.13 points.
However, the index remained one of the worst performers in the world, compared with Japan's Nikkei 225, which surged nearly 23 percent in 2012, and the Standard & Poor's 500 on Wall Street that saw an increase of more than 11 percent.
Nearly two thirds of netizens surveyed by China's largest portal website Sina.com as of 4:30 pm Monday said they lost more than 5 percent of their stock investment in 2012.
"The stock market had a bullish run on the last day of 2012. I hope it keeps the good momentum and makes up the ground lost in 2013," wrote Xixigongzhu88, a user of China's Twitter-like service Sina Weibo.
Both investors and analysts have complained about anaemic corporate earnings, rampant insider trading and frequent initial public offerings as China's economy slowed for seven quarters consecutively.
But many sense a turnaround next year, expecting the economy to improve and authorities to be more reform-minded.
Nearly 95 percent of people predict the benchmark Shanghai index to remain above 2000 points in 2013 and over 60 percent think it will stand above 2,500, according to the Sina.com survey, which attracted more than 33,000 participants.
The structural transition of China's economy and the government's focus on urbanization, growth quality and residents' income will produce good returns for stock investors next year, said Tang Hua, investment manager at Bosera Asset Management (International) Co Ltd.
Auto shares as well as stocks of home appliances, medicine, food and beverages may benefit from economic development in 2013, Tang forecasted.
Special Coverage
CSRC to bolster up stock market
Related Readings
IPOs forecast to rise in 2013
Investment channels to be expanded
Signs of recovery doing little for stock markets
Foreign interest should help boost flagging bourses
Gloomy markets defy expected growth
Related Stories
CSRC eases fund approval policy 2012-12-14 17:05
CSRC lowers threshold for Chinese companies seeking listings abroad 2012-12-21 20:21
IPOs forecast to rise in 2013 2012-12-26 10:08
Investment channels to be expanded 2012-12-28 10:49
Signs of recovery doing little for stock markets 2012-12-27 13:22
Foreign interest should help boost flagging bourses 2012-12-27 09:20
Today's Top News
President Xi confident in recovery from quake
H7N9 update: 104 cases, 21 deaths
Telecom workers restore links
Coal mine blast kills 18 in Jilin
Intl scholarship puts China on the map
More bird flu patients discharged
Gold loses sheen, but still a safe bet
US 'turns blind eye to human rights'
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
All-out efforts to save lives |
Liaoning: China's oceangoing giant |
Poultry industry under pressure |
'Spring' in the air for NGOs? |
Boy set to drive Chinese golf |
Latest technology gets people talking |