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China stock trading surges after Beijing unveils more state-led buying

‘National team’ support likely to be behind turnover in major indices hitting highest level since August, say analysts

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.

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