The story appears on

Page B3

December 2, 2009

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » Business » Finance

Stock market to hit record high

THE turnover of China's stock market will hit a record high this year backed by investor enthusiasm after the benchmark CSI300 surged more than 90 percent.

Turnover reached 48.33 trillion yuan (US$7.08 trillion) in the first 11 months this year, rising 81.2 percent from a year earlier and exceeding the whole year of 2007 when the turnover reached a record 45 trillion yuan, according to financial information provider Gildata.

In November, stock turnover of the Shanghai and Shenzhen markets reached 6.39 trillion yuan, rising 98 percent on a monthly basis.

"The daily stock turnover is very likely to reach 210 billion yuan this year, but commission rate will continue to decline," said Wang Songbai, an analyst at China International Capital Co.

Commissions totaled 130 billion yuan in the first 11 months this year, rising more than 60 percent from last whole year despite a lower commission rate of 0.13 percent.

Last month, commissions hit 16.88 billion yuan, rising 95 percent from October and hitting a record high since August. Commissions already exceeded last whole year's 67.65 billion yuan to 78.7 billion yuan in the first seven months of this year.

Wang expected domestic brokerages to earn 158.5 billion yuan from commissions this year. However, turnover of mutual funds declined nearly 20 percent to 179.92 billion yuan in the first 11 months, while warrants turnover dropped about 30 percent to 5.05 trillion yuan.


Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend