Trading accounts, stock markets soar
8 August 2007
Investor confidence in China is on the rise, with up to 1 million stock trading accounts opening each week, the Financial Times reported. The explosion of interest in share trading reached a peak in May with about 300,000 new accounts opened daily, dipped from June through July at 60,000 accounts per day, and peaked again Monday at nearly 180,000 accounts per day. According to analysts, the number of accounts opened on both Shanghai and Shenzhen exchanges may not accurately reflect the number of traders on the market due to some investors trading on both bourses. The Shanghai composite index rose 0.5% Tuesday to a new high of 4,651 points, 28% since early July.
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