China's rising stock market has resulted in a sharp increase in the market capitalization of the two bourses in Shanghai and Shenzhen.
Market value of the Shanghai and Shenzhen bourses surged to 35 trillion yuan (5.7 trillion U.S. dollars) on Friday, up 6.9 percent from the previous week. Average prices of all stocks rose 6.93 percent over the week to 9.6 yuan.
China's stock market capitalization overtook Japan as the world's second largest after the United States last week. The Shanghai stock market was valued at 22 trillion yuan by the close of market on Friday, up 9.6 percent from the previous week. The market value of circulated stocks in the week increased 7.8 percent to 29.4 trillion yuan. Over 60 stocks on the two bourses surged by the daily limit of 10 percent.
A new world record for daily turnover was set on Friday, breaking the previous high reached only two days previously, with combined daily turnover of the two bourses totaling 1.07 trillion yuan, surpassing the previous record of 915 billion yuan on Wednesday.
Transactions on the two exchanges reached 639 billion yuan and 435billion yuan respectively.
The rally is mainly driven by November's interest rate cut, which increased liquidity.
Many institutions expect a cut in the reserve requirement ratio soon for some banks, which is expected to release more funds into the equity market.
GMT 11:02 2018 Tuesday ,11 December
ASE opens trading on lower noteGMT 15:40 2018 Monday ,10 December
Amman stock market closes trading at JD4.4 millionGMT 19:10 2018 Wednesday ,05 December
Index at Palestine stock market drops by less than one pointGMT 17:58 2018 Sunday ,25 November
Amman stock market wraps up trading at JD2.6 millionGMT 14:24 2018 Thursday ,22 November
Russia’s stock market demonstrates record-breaking figures in 2018GMT 11:45 2018 Tuesday ,20 November
Tokyo stocks close lower as tech issues weigh, Nissan tumblesGMT 15:08 2018 Monday ,19 November
Amman stock market wraps up trading at JD6.1 millionGMT 15:51 2018 Sunday ,18 November
U.S. stocks post weekly losses amid tech shares routMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor