Trading turnover has fallen by more than a third both in Hong Kong and Shanghai despite official measures to prop up both stock markets, South China Morning Post reported. The Shanghai Composite Index climbed above 4000 points last week for the first time in three weeks, but turnover last week averaged only about RMB650 billion (US$104.8 billion), 50% below its June 8 peak of RMB1.312 trillion and down 32% from the June average of RMB952.3 billion. Average daily turnover in Hong Kong has dropped below HK$100 billion (US$12.9 billion) since July 16 and stood at about HK$80 billion last week, down 70% from its April 9 peak of HK$293.91 billion.
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