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China's weekly new stock accounts hit record high

Xinhua, June 2, 2015 Adjust font size:

he number of new stock trading accounts opened in China's A-share market last week reached 4.4 million, the seventh consecutive week the number beat 2 million.

The number increased by 1.8 million from the previous week, the China Securities Depositary and Clearing Co., Ltd. (CSDC) announced on Tuesday. The weekly number is a new historical high since a reform which lifted restriction and allowed investors up to 20 accounts in the A-share market was rolled out in April.

A total of 2.43 million new stock accounts were opened last week in the Shanghai A-share market, data showed, while that in the Shenzhen A-share market reached 1.97 million.

The combined accounts on the two bourses amounted to 216 million as of last week, data showed.

Chinese shares closed higher on Tuesday, with the benchmark Shanghai Composite Index up 1.69 percent to finish at 4,910.53 points. Total turnover on the two bourses expanded to 1.97 trillion yuan (322.37 billion U.S. dollars) from the previous trading day. About 430 shares rose by the daily limit of 10 percent. Endi