Wednesday’s market opened low by a small margin and then went up. Heavyweights propelled an overall ascension, with Shanghai Composite Index increase being 65.50 points or 3.52% at 1928.87 points, and growth of Shenzhen Component Index being 4.30% at 6811.87 points. All sectors gained, of which the financial sector surged by 6.4%, segments of excavation, nonferrous metal, machinery, electric component jumped over 4%, while food & beverage, public utilities underperformed the whole. Total turnover of the two markets was Rmb98.9bn, Rmb17.5bn more than that of the previous trading day.
Market leap reflects positive trend of some macro-indicators. The newly issued December financial statistics is aligned with indicators under our observation, like enterprises production & electricity usage, etc, which indicates the economic upturn. Pessimistic expectation changes, although not in an all-round way; its further trend is still under close eye-reach. On the other hand, international market suffered an overall slump, and decline in some emerging markets even outstripped 5%, which will cause pressure on domestic market adjustment in the short term.