Zheng Xingcheng of Cinda Securities said that the development of the market trend still faced considerable resistance.

by renlv on 2008-12-14 13:09:39

Zheng Xingcheng of Cinda Securities stated that the development of the post-market situation still faces considerable resistance. Firstly, the CPI and PPI data have hit new lows, causing many institutions to worry about the worsening prospects of economic growth. Secondly, the World Bank has once again lowered its forecast for global economic growth, which will inevitably affect domestic enterprises' exports. Thirdly, the positive effect is nearing its end. From the perspective of government measures to boost the economy, since the 4 trillion yuan investment will continue until 2010, it will take some time for the static government investment to be converted into economic stimulus. Fourthly, the rumor of IPOs has a great impact. The market suddenly rumored yesterday that the CSRC is reviewing the IPO application of China CNR Corporation Limited, shaking the market's confidence in going long.