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BIZCHINA / Center
New fund investors outnumber stock investors
By Song Hongmei (chinadaily.com.cn)
Updated: 2007-08-01 14:14
Chinese investors opened more new mutual fund accounts than stock
accounts on Monday for the first time since May 31, according to
statistics from China's clearing house.
Special coverage:
Markets Watch
Related readings:
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?Nationwide mad bull fever
China's major stock index advanced further in the past week and jumped
2.2 percent to a new record high of 4,440.77 on Monday.
Stimulated by the bull run, the number of newly opened trading accounts
in China has gradually increased. Investors opened 388,952 accounts at
brokerages on Monday, including 163,451 A-share accounts, 1,208 B-share
accounts and 224,293 fund accounts.
It is the first time in the past two months that the number of new fund
accounts has exceeded that of A-share accounts, according to figures from
the China Securities Depository and Clearing Co.
On July 30, the number of trading accounts in China reached a total
of?109.63 million, including 93.68 million A-share accounts, 2.24 million
B-share accounts and 13.71 million fund accounts, the clearing house's
data shows.
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(For more biz stories, please visit Industry Updates)
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