Shares rise to nearly 4,000 points
Print Edition
SHANGHAI stocks rose to nearly 4,000 points yesterday when securities companies rallied after learning that investors may be allowed to open more than one stock trading account.
The Shanghai Composite Index gained 0.84 percent to 3,994.81 points.
The Shanghai exchange has said investors may be allowed to open more than one stock trading account at various brokerages, a departure from trading under one account.
Sinolink Securities said the move, which offers investors a choice of brokerages, will also force them to improve their services to lure customers.
Huatai Securities expects the exchange’s decision at the end of May, and brokerages are likely to cut their fee amid more competition.
Soochow Securities surged 6.76 percent to 27.33 yuan (US$4.41), and Everbright Securities rallied 6.46 percent to 34.27 yuan.
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