SHANGHAI, October 22. /Corr. Artem Churkin/. Trading on the stock exchanges of mainland China completed on Thursday the growth of the main quotes. The Shanghai Composite index, reflecting the situation on the Shanghai stock exchange, increased by 1,45% to the level of 3368,74 item. The Shenzhen Component index, which is the main indicator of business activity on the trading floor in Shenzhen, rose to 3.56% 11305,10 to the value of the item.
Source of investor optimism, as in previous days, are positive expectations for the opening next week of the plenary session of the CPC Central Committee, which must be approved the main parameters of the next five-year plan, as well as large-scale reform of state-owned enterprises. In addition, players responded positively to the statement by the President XI Jinping, during his visit to the UK, that China will continue the development of the financial market.
“The current dynamics of quotations confirms that yesterday’s fall was a technical correction. Now there are new points of growth, which will provide a positive environment in the following days,” says the analyst Tougu Jufeng Guo Yiming (Yiming Guo).
However, a number of stock exchange experts believe that to speak about iridescent prospects of the market prematurely. “Ahead of major political events stocks always rise, as investors expect positive news about the future strategic course of development of the country. However further in the market often comes serious correction,” said analyst Eagle Investment Peter Zhao (Peter Zhao).
Amid expectations of new government initiatives in the sphere of national health care the best results on the day showed assets of pharmaceutical companies and manufacturers of medical equipment. Shares Of Guangdong Biolight Meditech Co. rose of 10.02% to 28,82 yuan apiece, Hangzhou Tigermed Consulting Co. – 9.99% to 37,22 yuan, COFCO Biochemical – on 10,03% to 16.67 per yuan.
Among the outsiders were the securities of individual companies of the banking and financial sector. Shares of ICBC Bank fell to 2.52 percent to 4.65 yuan, China Minsheng Banking Co. by 2.78% to 8.75 yuan.