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Chinese Stocks Could Jump By 17%

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advance6 June 24, 2010 (Chinavestor) China's scaled-back plans to cool economic growth could help Chinese equities jump by 17% in the second of this year, according to Shenyin & Wanguo Securities Co. The Shanghai Composite Index (SHA:000001), which is down 22% year-to-date, could reclaim the 3,000 level, the firm said.

The European sovereign debt crisis and China's own efforts to control property values have helped the country's equity markets to the dubious distinction of being Asia's worst performers this year. Only bourses in Cyprus and Greece have performed worse than the Shanghai Composite (SHA:000001) this year.

Increased urbanization and the government’s push to move manufacturing industries into poorer regions increases investment could help bolster Chinese equities in the second half, Bloomberg News reported, citing Shenyin & Wanguo Securities Co.

BNP Paribas, Morgan Stanley and AMP Capital Investors Ltd. have also offered more bullish assessments of Chinese equity markets following news that Beijing would relax the Yuan's peg to the U.S. Dollar.



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