(Yicai Global) July 22 -- The number of new stock trading accounts opened by individual Chinese investors surged 46.7 percent last month from a year earlier, according to new data from ChinaClear.
Retail investors signed up for 1.5 million accounts in June, which was 27.6 percent more than in May, figures from China Securities Depository and Clearing Corp. showed yesterday. Along with 2,100 new accounts for non-individual investors, the total reached 167.7 million at the end of last month.
Account openings are seen as a weathervane of market sentiment. Chinese mainland equities began a strong rally last month, with bullish gains in Shanghai and Shenzhen, before falling back toward the middle of this month.
Guotai Junan Securities saw online account openings increase more than 30 percent from May, with millennials accounting for almost a third, the biggest share, Shanghai Securities News reported. It also found 48 percent more opened at Caitong Securities.
Based in Beijing, ChinaClear handles all securities depository and clearing services for the Shanghai and Shenzhen stock exchanges.
Editor: Ben Armour