Analysts see stock wobbles
By Leo Zhang (Shanghai Daily)Updated: 2007-03-26 09:10 Shanghai stocks may move back and forth this week as investors are set to become cautious after regulators stepped up efforts to clamp down on stock market manipulation.
The Shanghai Composite Index, which covers yuan-denominated A shares and hard-currency B chips, closed 0.10 percent up at 3,074.29 on Friday, an all-time high.
The barometer sailed in all the five sessions last week and chalked up a combined climb of 4.9 percent.
Industry sources said Chinese regulators had been revving up pace to battle against stock-related crimes after a booming market spurred capital inflows.
The China Securities Regulatory Commission has started a probe into Hangxiao Steel Structure Co over possible insider trading after its shares surged sharply prior to a huge deal announcement.
An investigation may also be conducted into senior officials at GF Securities
Co who are suspected to have been involved in insider trading before the broker
unveiled a bid to take over a Shenzhen-listed firm.
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