A recent survey showed that 88 percent of Chinese fund managers expect a higher stock index a year later, the Xinhua-run China Securities Journal reported Monday.

    The investigation was conducted in July by the Investoday Company focused on securities analysis and consulting service.

    Only 38 percent believe the stock index will soar after one year, 19 percentage points lower than that in May, and 50 percent think the index will go up slightly.

    Survey showed 51 percent of fund managers regard the current pricing level of Chinese stocks is reasonable in general, and 81 percent plan to increase or maintain their stock position in hand in the next three months.

    The Chinese markets saw bullish performance for the first five months of this year as the major index grew by 42 percent.

    However, this dropped by about five percent on June 7 and again on July 13 with prices of nearly 300 of the 1,400 shares down by the daily maximum of 10 percent. Concerns about possible interest rate hikes and the massive IPOs prompted some investors to dump shares to secure their profits.  - Xinhua News