CHINA'S 09 UNLOCKED NON-TRADE SHARES TO BE 4 TIMES HIGHER: DATA.

BEIJING, Jan 1 Asia Pulse - Data shows that the scale of China's unlocked non-tradable shares in 2009 will be four times larger than 2008, Jan 1 with 689.772 billion such shares to be unlocked in 2009.

Rough estimations put the capitalization of the shares at some 3.5 trillion yuan (US$513 billion), by the closing prices of Dec. 18.

The total volume of unlocked non-tradable shares in 2009 already accounts for 105.15 percent of circulating A-shares in current market, less to say the non-tradable shares that were unlocked but not cashed in 2008.

The market has already seen the undermining effects of such shares in 2008.

With much more such shares to come, investors could easily feel frightened psychologically.

The psychological pressure will be especially acute around the period from yearend 2008 to the beginning of 2009, when macroeconomic environment shows no sign of improve and ugly economic data keeps on rolling out.

A closer look at the data shows that the heaviest pressures to be released by unlocked non-tradable shares will occur in July and October, but the market may respond to the pressures ahead, possibly in the first two quarters of the year.