THE Shanghai stock market is likely to undergo further fluctuations this week with the release of key economic figures.

"Some institutions held a pessimistic attitude toward China's macro-economy in the third quarter of this year, so the release of the figures may dampen the A-share market greatly," said Zhang Li, an analyst at Huatai Securities Co.

He estimated the index would move between 1,800 and 1,950 points.

The country is set to release the macro-economic figures, including gross domestic product and consumer price index, today. Fan Caiyue, a researcher at the National Development and Reform Commission, has predicted GDP growth of 9.8 percent in the January-September period, compared with 10.4 percent in the first half.

"The 1,800-point bottom line will be challenged if GDP growth slows sharply, but real estate stocks and brokerages are expected to lead blue chips to rebound," said Liu Jingde, an analyst at Cinda Securities Co. Liu expects the index will range between 1,850 and 2,100 points.

"The stocks regulator has beefed up efforts to revive the market. More positive moves will come especially in the real estate, agriculture and medicine sectors," said Chen Shaodan, an analyst with Stockfly Securities Co.