China Stock Trading Tumbles to 2023 Low as Market Loses Steam
(Bloomberg) — China’s stock turnover sank to a new low for 2023 on Tuesday, with just 636 billion yuan ($87 billion) worth of onshore equities changing hands in the near $10 trillion market. That compares with the 900 billion yuan average for the year.
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Sentiment has continued to cool in recent weeks despite a raft of measures to support financial markets — including the limiting of share sales by top stakeholders and encouraging buybacks — and signs that the economy is on the mend. The CSI 300 Index of mainland shares has extended its weakness into September, set for a second monthly drop.
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