New Trading Accounts Opening Faster

By Chua Kong Ho | February 14, 2009, Saturday |

Print Edition

CHINESE investors opened new stock trading accounts last week at the fastest pace in almost two months, Bloomberg News said.

Investors opened 223,859 accounts to trade equities on the Shanghai and Shenzhen exchanges from February 2 to February 6, figures from China Securities Depository & Clearing Corp showed. That's the highest since the week to December 12, when 256,537 accounts were set up.

Stock transactions in Shanghai have also surged, reaching 32 billion shares on February 11, the highest since Bloomberg News started compiling the data on January 3, 2006. An average of 17.7 billion shares have changed hands daily this year, compared with 15 billion in 2007, when the Shanghai Composite Index doubled.

New account numbers reached 1.07 million in the week ended September 7, 2007, six weeks before the Shanghai Composite hit a record 6,092.06 points on October 16.

Finance

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New Trading Accounts Opening Faster

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