GO
Loading...

China Stock Accounts Top 100 Million Mark

The number of stock accounts in China has likely exceeded 100 million for the first time, as investors are lured to a market which has jumped 60% so far this year, the official Shanghai
Securities News said on Tuesday.

Investors in China had opened nearly 27 million accounts to trade stocks since the end of 2006, the paper reported, citing data and calculations from China Securities Depository and Clearing Corporation.

The calculation of the new record was based on the assumption that the number of accounts opened on Monday was in line with last week's daily average of 350,000 added to a total 99.82 million accounts as of May 25, it said.

The figure included both accounts for yuan-denominated A shares, foreign currency-denominated B-share accounts and funds, and did not correspond to the total number of new investors, the report cautioned.

An investor in China's stock market may hold up to six accounts simultaneously, it said.

Chinese stocks surged to an all-time high in record turnover on Monday despite increasing caution among some institutions. The Shanghai benchmark index has risen 59.7% so far this year.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • Bullish case for bird flu?

    Farha Aslam, Stephens food analyst, provides perspective on the current outbreak of bird flu and why it could present investors with a buying opportunity.

  • Has Fed already tightened?

    Jason Trennert, Strategas Research, and Greg Ip, WSJ chief economic commentator, discuss Fed chatter and when interest rates will likely begin to normalize.

  • Are millennials lazy and entitled?

    CNBC's Landon Dowdy interviews millennial workplace expert Lindsey Pollack, who says millennials aren't lazy, just misunderstood.