Shanghai Composite Index closed on a new high in nearly 5 years.

<P> Shanghai Composite Index closed on a new high in nearly five years, investor confidence </ P> <P> to worry about holiday effect in the market generally negative impact on the occasion of National Day in Shanghai and Shenzhen Composite Index but in the last three trading days prior to strength again and again ., the Shanghai Composite hit 1752.42 points yesterday, closing more new high for the last 5 years the highest monthly closing high. .</ P> <P> Yesterday, the Shanghai and Shenzhen exchanges, opening tape go on the Shanghai Composite Index touched intraday high of 1755.69 points to close at 1752.42 points Zhong Pan, or 0.89%, turnover of 23.8 billion yuan; Shenzhen .into futures rose 0.90%, turnover 14 billion yuan. .The two cities was broad based momentum stocks. ."Three-bing" K line graph form not only the stock market before the holiday to bring bursts of festivity, but also to investors holding the feast confidence. .</ P> <P> back round market, stock index 998 points from the starting point of the current transaction has been Shanghai's 1750 attack dense region. .While the past 5 years, the broader market were to decline in October reported income, but the market this year, many mainstream institutions began to become optimistic, GF Securities analyst Wang Xiaoping believes that the broader market trend showing higher volatility will be difficult to change. .</ P> <P> view from the driving force to promote the market, last year the share reform is undoubtedly one of the biggest driving force. .In addition, the accelerated appreciation of the renminbi has become a market of "booster." .August this year, because of margin trading, stock index futures and other financial innovations about to start, market scarcity of blue chip companies started to re-focus, "the elephant" phenomenon of dance from time to time. ."As the QFII threshold lower, open-end funds continue to issue, market liquidity, therefore, the broader market is moving from the original CSI revaluation model driven up prices to fund the transition." Shanghai, a fund company's investment director think so. .</ P> <P> more gratifying is that these data show that the basis of the current round of market solid than ever. .As of the end 9, A-share market, the average share price of 5.40 yuan, 22 times earnings, the two values do not seem lonely at the top. .From the Shanghai and Shenzhen listed companies reported semi-annual terms in 2006, net profit rose nearly 10% of the annual results of the relative optimism is almost a foregone conclusion. .From a macroeconomic point of view, double-digit growth for three consecutive years the Chinese economy have not yet obvious signs of slowing down. .Clearly, the stock market has been the economic laws of identity management, and build in a number of new policies, the transparency of capital markets has been improving, which is take a good long-term market a positive signal. .</ P>.