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英语新闻丨A-share market set to further buoy confidence
Description
Following the A-share market's recent robust recovery buoyed by a number of stronger-than-expected stimulative policies, increasingly confident investors are attaching more attention to the stock market, whose upward momentum can be further consolidated by more supportive measures and the ongoing optimization of China's economic growth, said industry experts.
Preparations were made during the National Day holiday, which ended on Monday. The Shanghai Stock Exchange announced on Sunday that it will add an extra five minutes, from 9:25 to 9:30 on each trading day, fordesignated
transactions. The new policy will take effect on Tuesday, the first trading day after the holiday.
As explained by industry experts, a designated transaction is a step that an investor must take between opening a new stock account and commencing trading on the SSE.
The latest adjustment at the SSE has been made to address the surging number of newly registered retail investors over the past few days and to facilitate trading efficiency once the market resumes, they said.
The market's upbeat sentiment can be felt at securities brokerages. Leading brokerages provided round-the-clock online account opening and consulting services during the recent holiday.
Sinolink Securities said the account opening appointments they received during the holiday jumped 150 percent from a month earlier.
Minsheng Securities said the number of daily requests for opening stock accounts over the past seven days was four times the amount before the holiday.
To meet such surging demand, the securities account platform and identification information checking system at China Securities Depository and Clearing Co resumed operation on Sunday and Monday.Investor confidence has been supported by the A-share market's recent strong rebound.
Ever since the batch of incremental policies was introduced on Sept 24, the Shanghai Composite Index gained 20 percent by the end of September, with the Shenzhen Component Index up 29 percent.
The combined trading value at the Shanghai and Shenzhen exchanges hit a new single-day record of 2.6 trillion