Categories
China Stocks

Shanghai Composite Index

Reading Time: < 1 minute

Hit new high today, it closed above 3500 today (3531 to be exact).

I heard from the news on April 9, there were 180,000 new stock trading accounts being opened. As you may know the new accounts and trading volume of 1st quarter already exceeded last year’s No. Feel the power of Chinese stock investors (or speculators)? Someone did a simple calculation, let’s assume on average day 100,000 people opened the acct, and average account has 50,000 Yuan, that’s about  5 billion Yuan new money every day. If we assume 20 trading days for a month, that’s 100 billion Yuan a month. That’s on the demand (demand for stocks) side.

Categories
China Stocks

ICBC 2006 Results

Reading Time: < 1 minute

ICBC (601398.SS, 1398.HK), Industrial and Commercial Bank of China, announced its 2006 result today, you can read the summary here (Chinese, English). Here is an offical PDF report (in traditional Chinese).