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Stock trading up 6 folds in January

(Shanghai Daily)
Updated: 2007-02-14 16:54

Turnover on the Chinese mainland's stock exchanges reached a record 2.56 trillion yuan (US$330 billion) last month, more than seven times the amount a year earlier, Xinhua News Agency reported today.

The Shanghai Stock Exchange traded 1.72 trillion yuan last month, booming 675 percent from a year earlier, and the Shenzhen Stock Exchange traded 836 billion yuan, surging 523 percent.

Mainland residents opened more new stock accounts last month than they did in all of 2005 - driven by the lure of high returns from a booming market.

Investors established 1.38 million securities investment accounts in January, a monthly high and a 134 percent increase from December.

The figure compared with 1.24 million new accounts in 2005 and more than three million new accounts last year.

China's benchmark Shanghai Composite Index jumped 130 percent in 2006 after the market made all its shares tradable. It was also buoyed by listings through a raft of big companies.