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Chinese PE managers remain optimistic over future stock market

(Xinhua)
Updated: 2009-08-10 17:31

Almost half of China's private equity (PE) managers voiced optimism about China's mainland stock market despite last week's share slump, latest survey showed.

In a survey conducted by China's state TV broadcaster, China Central Television (CCTV) and simu.com, an information provider of the field, of the 35 top PE managers that had been interviewed, 45.71 percent predicted a bullish market in August.

Related readings:  Chinese stock market lags among BRICs  Capital held in stock market tops 1.7t yuan in July  Stock market surges to new high amid economic revival  Stock market may see technical correction soon

Only 17.15 percent of them thought Chinese shares would decline this month, while 37.14 percent said the market would enter a correction period, according to the report on simu.com.

Also, PE managers remained cautious towards investment in the upcoming Growth Enterprise Market, the Chinese NASDAQ-style stock market, as only 8.57 percent of them said they planned to launch related trust products, said the report.

Chinese shares dropped over four percent last week to 3,260.69 after gaining for seven consecutive weeks.