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Market review: April 27, 2016

Fang submitted 2016-04-27 15:31:05

Market review:

China stocks declined on sentiment deteriorated before the May Day holiday, and closed at 2953.67.

Research Notes:

Money outflowed from Ship Building, Highway and Finance sectors the most. Wenzhou Hongfeng Electrical Alloy Co. (300283.sh) rallied to limit-up for it resumed trading after the change of merge plan.

We recommended investors to be cautious in the near term, for both equity and commodities can experience some selling pressure and previous leading commodities, such as coals and iron ores seen limit-down slump as bull taking profit. However, we kept our optimism on equity in 2H as money may switch from commodities and bonds into stock as China economy continued to stabilize.

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