Stocks News
- Money available for A-share trading tops 1.3 trillion yuan in August
Date: 6-Sep-2007 Sources: (People's Daily)
The capital available for A-share trading exceeded 1.3 trillion yuan (172 billion U.S. dollars) at the end of August, signaling continued investor confidence in China's stock markets.
The figure was approximately 30 percent higher than the level three months earlier, the Shenyin-Wanguo Research Institute of Securities said on Wednesday.
The total included a monthly record of 220 billion yuan that became available for stock trading in August, according to a monthly report on stock markets jointly produced by the research institute and Shanghai Securities Journal.
The policy to facilitate investment by mainland residents in Hong Kong, which was promulgated in August, has not yet prompted capital to flow out of the mainland, the institute said.
On Tuesday, the Hong Kong newspaper South China Morning Post reported that the plan to allow mainland investors to buy Hong Kong stocks had been delayed with some officials concerned over a potential slump in mainland shares.
The institute's report also found that the monthly turnover of the equity markets declined from six trillion yuan in May to 5.5 trillion yuan in August.
Earlier reports said in the first half of this year, the stock exchanges in Shanghai and Shenzhen raised 188 billion yuan (24.9 billion U.S. dollars), with a daily turnover of 202.7 billion yuan, up 440 percent year-on-year.
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