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Bullish market sees strong investor sentiment

By Zhang Yu (China Daily)
Updated: 2007-01-26 09:53

The China Securities Regulatory Commission said recently that last year's share reform to make non-tradable State-owned shares tradable in the market was fundamentally a success.

It said the reform had solved a chronic problem in China's stock market, revitalizing investor confidence to become an important factor in the market turning bullish.

But other netizens were less positive, doubting that China's stock market will remain golden for 10 years.

"A 10-year bull run? You've got to be kidding," said one respondent.

Another netizen agreed. "A five-year golden time is possible, but for 10 years it is hard to see."

Some of the commentators believed that the 10-year bull run was a fantasy.

They cited former Morgan Stanley chief economist Andy Xie's view that "bubbles are liable to appear, with the mainland's excessive liquidity levels being the source of growth".

And according to another poll respondent: "Stock investors, after losing money for years, might make some money during this bullish period. But there is a huge risk lurking the market might nosedive."

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