Investors in Shanghai, Beijing ride bull all the way to bank
Updated: 2015-05-25 13:27
By Dai Tian(chinadaily.com.cn)
Investor at a securities brokerage in Fuyang city, East China's Anhui province, May 22, 2015. [Photo/IC]
Investors has been riding on an "inclusive" bull market, as 99.5 percent of stocks rose in the first four months this year, with only 14 out of 2,547 recording a decline.
Investors in Shanghai scored the highest gains, with an average of 156,400 yuan ($25,143), followed by Beijing investors whose profits averaged 80,200 yuan, reported Beijing Youth Daily on Monday citing data from RoyalFlush Information.
Investors nationwide on average gained about 14,000 yuan from January to April, according to the data, as the benchmark Shanghai index surged 37 percent in the same period.
The ChiNext Index, which tracks China's Nasdaq-style board of growth enterprises, has soared 140 percent since the beginning of the year.
Of the 2,547 stocks, 397 saw their share price double, and 1,163 rallied more than 50 percent, according to RoyalFlush Information.
The market sentiment remains bullish, as a gauge on investors' confidence rose 26.5 percent year-on-year to 65.2 in April, despite a decline from 70.5 in March, a polling by Administration of Securities Investor Protection Funds showed. The reading has stayed above 50 for 11 consecutive months.
Chinese stocks rallied to a seven-year high on Friday, with 255 stocks jumping by the daily limit of 10 percent, led by financial, technology and healthcare companies.
The Shanghai Composite Index closed at 4,657.95 points, up 2.8 percent, while Shenzhen Component Index climbed 1.1 percent to 16,045.8 points, ending the week with the biggest gain since 2008. Stock turnovers at the two bourses reached nearly 2 trillion yuan ($322.61 billion) on Friday.