May 12, 2007
Crazy Turnover in China's Stock Markets
Interesting bits from this article in the FT, Bourses in China eclipse all of Asia:
“The combined total value of shares traded on the mainland Chinese market on May 9, 2007 was Rmb376.9bn ($49bn). Wednesday’s figure was nearly double Japanââ¬â¢s $26.9bn turnover, and triple the $16.5bn combined trading volume of Australia, Hong Kong, Thailand, Singapore, Malaysia, Korea, India, Taiwan, Indonesia, New Zealand and Vietnam. It was still less than half Tuesdayââ¬â¢s $122bn trading volume in the US, but well above Londonââ¬â¢s $29.4bn on Tuesday.
While the Chinese market is now the worldââ¬â¢s second-largest in terms of turnover, it is still less than half the size of Japanââ¬â¢s in terms of market capitalisation, with Shenzhen and Shanghai boasting a combined $2,200bn compared to Japanââ¬â¢s $4,700bn, the UKââ¬â¢s near-$4,000bn and the USââ¬â¢s $16,500bn.”