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China becomes second-largest stock market

By Qiang Xiaoji (chinadaily.com.cn)
Updated: 2010-03-10 17:26

As the stock markets recover from the credit crisis, the turnover of stock exchanges in the Asia-Pacific region outstripped their counterparts in Europe, the financial website P5w.net reported, citing foreign media.

The turnover of the Shanghai Stock Exchange and Shenzhen Stock Exchange of China's A share market had recently exceeded that of the Tokyo Stock Exchange, making China the second-largest stock market next to the US, the report said.

The turnover of 16 stock exchanges belonging to the World Federation of Exchanges (WFE) in Asia-Pacific totaled $18.6 trillion in 2009, while 26 exchanges under the WFE in Europe, Africa and the Middle East had a total turnover of $13.08 billion. WFE said those trends continued in the first two months of 2010.

According to China's central bank, in 2009 indices of China's stock markets showed an upward tendency and the turnover had a big surge. The total turnover of China's A share market was 34.5 trillion yuan ($5.05 trillion), and the average daily transaction amounted to 141.58 billion yuan, up 92.2 percent and 93.7 percent respectively.