Chinese investors are borrowing money for stocks at the fastest rate in six years as the market surges, reported Caixin.
On the Shanghai and Shenzhen stock exchanges, the outstanding balance of margin trading increased to RMB 1.73 trillion ($271 billion), the highest since 2015. Trading surged and daily turnover exceeded RMB 1 trillion for several days.
In the past month, the CSI Index rose 4.37% and the S&P 500 Index grew 1.4%. According to the China Securities Depository and Clearing Corp, the total of retail investors rose to 187 million, up 13% from the previous year.