SHANGHAI/HONG KONG — Brokerages have become early beneficiaries of China’s stimulus rollout thanks to a surge in trading activity of mainland-listed stocks.
Daily turnover of stocks listed on the Shanghai and Shenzhen exchanges hit an average of 2.1 trillion yuan ($289 billion) this month through Nov.22, up from 2.01 trillion yuan in October, according to data provider Wind. While the turnover declined last week, it remains more than double the daily average of 778 billion yuan for this year before China introduced sweeping stimulus measures on Sept. 24 to ease lending rates and fund a stock market support facility.
