(Yicai Global) Sept. 23 -- Equity trading on China's two mainland stock markets has reached a new record-long streak with more than two months of heated investing.
The combined trading volume of the Shanghai and Shenzhen stock markets surged above CNY1 trillion (USD154.8 billion) for 45 consecutive trading days today, surpassing the previous record of a 43-day streak logged in 2015.
The Shanghai Composite Index finished 0.4 percent higher at 3,642.22 today with CNY633.2 billion (USD98.1 billion) worth of stocks exchanging hands. The Shenzhen Component Index climbed 0.8 percent to 14,387.36 with a turnover of CNY688.3 billion. The combined figure was CNY1.32 trillion.
The new record reflects a buoyant market, as well as residents' big wealth transfer from housing and other assets to equity, the Paper reported, citing Xie Chiming, general manager assistant at LC Securities's asset management branch in Shanghai.
The continuously high stock trading volumes indicate a turning point of household wealth allocation, according to China International Capital.
The trend may be here to stay. It may become common that daily volumes exceed CNY1 trillion as the number of mainland-listed companies has been growing quickly in recent years, said Gui Haoming, chief economist at Shenwan Hongyuan Securities.
A large amount of money is flowing into the A-share market amid positive market sentiments. The trillion-yuan levels of daily trading show that the size of China's mainland capital market is getting bigger as investors are becoming more enthusiastic about equities, Gui added.
Editor: Emmi Laine, Xiao Yi