Stock market continues upward trend

The Chinese shares have posted a third consecutive weekly rise. On Friday, the Shanghai Composite snapped a 5-session winning streak at 3,308 points, down by 0.37 percent. But the benchmark index gained 3.8 percent for the week.The Shenzhen Composite closed at 13,695 points, down by 0.03%.It advanced 3.25 percent this week.

The market enjoyed an upward trend for the whole week, and turnover surged by 30 percent over last week. Mining, agriculture, and electronic parts rose the most, while home appliances, transportation equipment, and financial services climbed the least.

The GEM Board also ticked up. 28 stocks rose an average of 6.5 percent on Thursday. Meanwhile, with more people expecting RMB appreciation and possible reforms, B shares continued the upward trend.

The Shanghai B share market jumped more than 4.6 percent for the week, while the Shenzhen B share market rose 2.17 percent.

Zhang Gang, Chief Strategic Analyst of Southwest Securities, said, "International stock markets set annual record highs at the beginning of this year, so the A Share market had a strong driving force. However, the rise in the latter half of the week slowed down, and constituent shares ended mixed, because optimistic and pessimistic had great branch points. GEM board and other stocks with small market value were more active, but their PE ratio is too high."