Stocks News
- Market value of China's stock exchanges continues to swell
Date: 13-Apr-2007 Sources: (Xinhua Online)
The combined market value of China's two stock exchanges hit a record high of 14.15 trillion yuan (1.8 trillion U.S. dollars) on Wednesday.
The benchmark Shanghai Composite Index ended Wednesday's trading at a new high of 3,495.22 points. The combined turnover of the Shanghai and Shenzhen bourses amounted to 241.8 billion yuan (31.4 billion U.S. dollars), the largest single-day volume since China's capital markets were launched.
The market value by Wednesday included 11.02 trillion yuan on the Shanghai bourse and 3.12 trillion yuan on the Shenzhen exchange.
Of the market value of the Shanghai bourse, RMB-denominated A-shares made up 10.95 trillion yuan and hard-currency B-shares, 70.59 billion yuan.
Of the market value of the Shenzhen bourse, A-shares accounted for 3.02 trillion yuan and B-shares, 98.06 billion yuan.
On Wednesday, the Hong Kong stock exchange, the sixth largest in the world, recorded 14.04 trillion HK dollars, or 13.89 trillion yuan, in market value for both of its main board and growth market.
Market observers believe the gap between the bourses on the Chinese mainland and Hong Kong will continue to widen.
It took only seven trading days for the combined market value of Shanghai and Shenzhen stock exchanges to grow from 13 trillion yuan to 14 trillion yuan.
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