China bourses overshadow rest of Asia
10 May 2007
The value of shares traded in China on Wednesday was larger than the rest of Asia combined as the Shanghai stock exchange's benchmark index broke the 4,000 barrier, the Financial Times reported. The Shanghai stock exchange saw turnover of US$33.2 billion while the smaller Shenzhen bourse saw US$15.8 billion in trades. The combined total of US$49 billion was 21% higher than the previous record at the end of April. Six months ago, trade was only about US$5 billion per day. The market has climbed 300% in less than two years. Wednesday's total trade figure was almost double that of Japan's US$26.9 billion and much higher than the combined US$16.5 billion traded in Australia, Hong Kong, Thailand, Singapore, Malaysia, Korea, India, Taiwan, Indonesia, New Zealand and Vietnam, the newspaper reported. Although the total was less than the US$122 billion traded in the US it was much higher than the US$29.4 billion traded in London.