China’s stock markets reached a milestone after shares worth over RMB 1 trillion ($154.6 billion) were traded on the Shanghai and Shenzhen exchanges for the 44th consecutive day on Wednesday, reports the South China Morning Post.
The previous record of 43 days, set between May and July in 2015, helped to more than double the benchmark stock index. While trading of offshore stocks has felt the effects of the debt crisis at China Evergrande Group and Beijing’s regulatory crackdown on the technology, gaming and after-school tutoring sectors, China’s onshore markets – denominated in the yuan and also known as the A-shares market – have remained relatively calm and continued to attract inflows.
“We expect A shares to continue outperforming MSCI China, given their low internet weight, high weight in the policy supported manufacturing sector and better domestic liquidity conditions,” Meng Lei, a strategist at UBS Group in Shanghai, told the SCMP.
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