China reported the largest number of new stock investors in five years in July, as millions of individuals rushed into a buoyant share market, boosting trading turnover and brokerage earnings.
It represents a 60 per cent jump from a month earlier and a year-on-year increase of 124 per cent, according to the China Securities Depository and Clearing Corp (CSDC).
Investors sought high returns in a stock market that jumped over 10 per cent in July, helping boost turnover. Stamp duty income from securities trading rose 35.3 per cent year-on-year during the first seven months, compared with a 8.7 per cent fall in fiscal revenues as coronavirus hit the economy, official data shows.
No comments:
Post a Comment