Closed-end fund index dropped over 5%

By Fund China
Published: 20:57, January 28th, 2008

GUANGZHOU (Fund China) - Last week, shanghai and Shenzhen fund index though got out of the huge sell-off situation ultimately set up new daily lowest record.

Relevant materials show that the shanghai fund index fell 293.65 or 5.63% to 4923.12 last week (a previous week closed at 5216.77); Shenzhen index fund decreased 344.74 or 6.67% to close at 4820.15 last week compared a previous week closed at 5164.89 points. The closed-end fund index in these two bourses both hit a new lowest weekly points drop record. And the trading amount of funds in these two bourses only reached 19.671 billion Yuan last week.

In this case, MaJing, analysts of ZHONGTIAN SECURITIES indicated that the closed-end fund index movement had a close relationship with the tow bourses’ stock markets. Last week, shanghai stock index dropped 8.08% while Shenzhen stock index fell 4.62%. It would necessarily affect shanghai and Shenzhen fund indexes’ movement directly.

Copyright Fund China 2008.

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