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Chinese investors opened 11 percent more stock trading accounts last week than the week before, reflecting growing confidence in the Shanghai market after a recent rally.
The China Securities Depositary and Clearing Corporation says investors opened more than 254 thousand new accounts for trading in local-currency A shares in the week ending July 23rd, up from about 230 thousand the previous week.
The Shanghai Composite Index jumped 6.1 percent last week, aided by improving liquidity in the money market and expectations of an easing in official property market curbs. Retail investors accounted for around two-thirds of stock market turnover.