Cautious Investors Open Least Number of Stock Trading Accounts
By Cathy Ding |
June 10, 2010, Thursday
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Print Edition
Print Edition
THE number of individual stock accounts opened last week was the lowest in more than one month as investors adopted a wait-and-see attitude on concerns that the European debt crisis may affect global economic recovery.
Investors opened a total of 245,237 accounts during the five days ended June 4, China Securities Depository and Clearing Corp said yesterday. The figure was 20 percent lower from that of the previous week and is almost two-thirds less than last year's peak level of 700,617 accounts which were opened in the last week of July.
The Shanghai Composite Index has lost 21 percent since the beginning of this year after the People's Bank of China raised the reserve ratio three times to curb excessive liquidity.
Investors are also concerned that government restrictions on mortgages may hurt other sectors of the market.
Investors opened a total of 245,237 accounts during the five days ended June 4, China Securities Depository and Clearing Corp said yesterday. The figure was 20 percent lower from that of the previous week and is almost two-thirds less than last year's peak level of 700,617 accounts which were opened in the last week of July.
The Shanghai Composite Index has lost 21 percent since the beginning of this year after the People's Bank of China raised the reserve ratio three times to curb excessive liquidity.
Investors are also concerned that government restrictions on mortgages may hurt other sectors of the market.
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