Unclear 2012 for ChiNext, analysts caution
By He Wei | China Daily | Updated: 2012-02-01 07:53
SHANGHAI - Strong earnings reports by companies listed on China's start-up board are encouraging, but they don't provide a "crystal ball" for the market's direction, stock analysts and investors said.
Nearly two-thirds of the companies listed on ChiNext, the Nasdaq-style second board, reported profits last year, even after a bear market erased more than 30 percent from the start-up index.
Out of 285 companies, 191 had reported profits through estimates or annual reports as of Tuesday, accounting for 67 percent.
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