Deals
Sorry Shanghai, There's a New China Stock Exchange King
- The Small and Medium Enterprise Board first hit No. 1 in May
- Turnover on Shanghai bourse has plunged 86% in past 12 months
Small Stocks in China Loom Large
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The Shanghai Stock Exchange’s reign as the premier venue for trading Chinese equities is coming to an end.
For the first time in at least a decade, China’s oldest bourse has lost its position at the top of turnover rankings for the nation’s four major trading venues. The new leader is Shenzhen’s Small and Medium Enterprise Board, a 12-year-old market for mostly non-state companies that first climbed to No. 1 on May 17. It has since jockeyed for position with the Shanghai, with both bourses handling about 180 billion yuan ($27.1 billion) of trades on average over the past five days.