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China: China's stock market sees surging investor interest
Storyline: China's stock market sees surging investor interest [Voice_over] China's A-share market is experiencing a surge in investor activity, with new stock trading accounts jumping 71 percent year-on-year to 1.96 million in July, new data shows. Experts say young investors are driving the trend, making up 60 percent of new accounts at major brokerage firms. At a Galaxy Securities branch in Beijing, recent graduates are amongst those opening their first trading accounts. Advisors at the firm say active accounts, those with deposited funds and actual transactions, have nearly tripled in the past year. [Sound_bite] Zou Ye, investment advisor of Galaxy Securities: "Since late July, we've seen a very noticeable shift, clients are now actively approaching us. Currently, investors under 30 years old account for about 60 percent of our total new account openings." [Voice_over] According to data from the Shanghai Stock Exchange, there were more than 14.5 million new A-share accounts in the first seven months of the year, a nearly 37 percent year-on-year increase. Meanwhile, margin trading balances, a key gauge of market sentiment, hit a decade high of 2 trillion yuan, or roughly 280 billion U.S. dollars, in early August. Money managers say the increased confidence is noticeable. [Sound_bite] Zhu Songjun, director of Ping An Securities Beijing Branch: "With the recent market rally, investor participation has become more active. Our branch has seen a 38 percent month-on-month increase in new margin trading account openings since August." [Voice_over] China now boasts 7.54 million individual margin traders and over 50,000 institutional participants, signaling robust interest in the rally. [Restrictions : No access Chinese mainland]
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