CHINA’S A-share market soared strongly on Monday, with the turnover on the Shanghai and Shenzhen stock exchanges exceeding 2.5 trillion yuan ($356.5 billion) in total. Monday is the last trading day before the weeklong National Day holidays.
The Shanghai Composite Index increased by 8.06 percent to reach 3336.5, and the Shenzhen Component Index ended 10.67 percent higher. ChiNext Index, tracking China’s Nasdaq-style board of growth enterprises, witnessed an increase of 15.36 percent. The index that comprises 50 representative companies listed on the Beijing Stock Exchange increased by 22.84 percent. The Beijing bourse index and ChiNext Index witnessed their highest single-day gains on record.
The Shanghai Composite Index has surged more than 17 percent in September.
On Monday, the turnover on the Shanghai and Shenzhen stock exchanges exceeded 1 trillion yuan for the fourth consecutive trading day.
The Shanghai Composite Index opened 3.47 percent higher on Monday. The Shenzhen Component Index opened 4.58 percent higher at 9,950.65 points, and the ChiNext Index rose 5.77 percent at the opening on Monday. China’s A-share market has rallied since Thursday after a key Communist Party of China leadership meeting on that day stressed the need to boost the country’s capital market and actively promoting the medium- and long-term funds to enter the market, the Xinhua News Agency reported.
After the meeting, the Shanghai Composite Index closed above 3,000 points on Thursday, the first time above the key benchmark since July 2.
The enthusiasm for the stock markets flooded the trading systems of stock exchanges and many securities companies.
On Sunday, the Shanghai Stock Exchange (SSE) completed all trading tests, with the bidding system received 270 million orders, which is double the historical peak and three times the number of orders submitted on Friday. Earlier, the SSE announced plans to conduct trading tests on Sunday, aimed at validating the performance of its trading platforms in handling large volumes of orders, according to media reports.
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