SHANGHAI B shares closed mixed yesterday, with investors focusing on coming economic data, according to market traders.
Tim Greaton, who manages the China Growth Fund for Credit Lyonnais Asset Management, said China was to release inflation figures early next week.
There also are several listings planned for Shanghai, causing some investors to hold cash in anticipation that the new issues will be priced at earnings multiples well below the market average.
Shanghai China International Travel set the trend late last month when the travel agency issued shares at a pricing multiple of 8.3 times, against a market average closer to 15.
'It's a case of waiting for a sound investment in the primary market at a cheaper price,' Mr Greaton said.
Among active stocks, real estate developer Outer Gaoqiao rose 0.2 US cent to 76 cents with 601,000 shares changing hands.
Polyvinyl chloride and caustic soda producer Chlor Alkali fell 0.8 cent to 32.2 cents with 695,000 shares traded.
