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Market Report Excerpt
January 16, 2009
On Thursday, the two markets fluctuated in narrow range and fell back after soaring in the later trading, withShanghai Composite Index down by 8.66 points or 0.45% at 1920.21 points and Shenzhen Composite Indexby 0.20% to 6798.53 points. Of the top ten heavyweights, only Bank of Communications (601328) slightlywent up and mid & small caps performed relatively actively. Electronic components and information devicerose by over 2%, while excavation, food & beverage and ferrous metal were slightly frustrated. Totalturnover of the two markets was Rmb126.717bn, up by Rmb27.8bn than that of the previous trading day.When global market is suffering slump, A-share market takes on independent and strongly resilientperformance. Due to the favorable turn of a series of economic indicators and the hearsay of largelyamplified credit data in the first week after the New Year Day, people
’
s expectation on future economy haschanged. Recent risks mainly come from earnings, because listed companies home and abroad both beginto announce the earning forecast. Although public confidence is shaky, once the earning is sharply lowerthan expected, market will fluctuate. Taking all factors into consideration, A-share market is predicted tomaintain interval fluctuation in the short term.
By Zhang Zhuo 
Domestic Market Information
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