Shao Yukai, an industry analyst at IndustrialSecurities in Shanghai, says "a sharp increase in demand for power equipment will generate more than expected profits for listed companies."
"The yuan is not likely to appreciate in the next six months, and it is not likely to appreciate until the dollar starts to stabilize," said Dong Xian 'an chief economist from IndustrialSecurities.
Declines in the automobile, semiconductor and industrial equipment industries especially hurt Hitachi, as well as write-downs of securities due to the sharp declines in global stock exchanges.