Trading activity in China’s largest listed companies has surged to a five-month high, reflecting what analysts said was a likely increase in buying by Beijing’s “national team” of state-run financial institutions.
Daily turnover for stocks included in the CSI 300, CSI 500 and CSI 1000 indices — which together account for the majority of the Chinese stock market’s trading activity — rose to Rmb699bn ($98.3bn) on Wednesday, the highest level since August 28, according to Financial Times analysis of figures from Chinese data provider Wind.
The CSI 300 index, which contains the largest and most liquid Shanghai- and Shenzhen-listed stocks, is up 4 per cent this month, after shedding more than 6 per cent in January.