Shenzhen A Share Market Weekly Review

The Shenzhen Composite Index rose 3.65 points or 0.06 percent inthe last five days to close at 611.53 points.

Turnover for A shares was 40.38 billion yuan (4.87 billion U.S.dollars), compared to last week's 50.17 billion yuan (6.04 billiondollars), according to Homeway, a leading Chinese on-line financialand securities consultancy company.

Following last week's sharp rise, the index corrected between 600and 613 points during the week. Most shares performed actively.

High-tech and Internet shares recovered their strength. Aftercorrecting for half a year, They began to attract bargain hunters'attention and became market bellwethers.

Steel companies also performed actively, following the news thatthe China Securities Regulatory Commission has approved the issue ofthe Shanghai Baoshan Steel Co..

Pharmaceutical shares were new leaders in the last two days'trading. Most of them were on the top gainers' list.

On the IPO market, the market expansion was accelerated on theShanghai bourse. Three new A shares were issued during the week,while another two companies will be issued and listed next Monday.This may drain more money from the secondary market.

No new A shares have been issued on the Shenzhen bourse sincelast month, as it will switch to a second board market.

As investors are nervous of the heavy pressure range between 600and 613 points, it will be hard for the index to challenge the 615points next week.