Gold rush aids jump in futures - ResearchInChina

Date:2008-02-02liaoyan  Text Size:
FUTURES turnover in China hit 6.03 trillion yuan (US$837.5 billion) in January, marking a three-fold jump from the same period last year.

It also grew 15.3 percent from December last year, according to statistics from China's three futures exchanges in Shanghai, Dalian and Zhengzhou.

The introduction of zinc and palm oil futures last year had enriched the market.

And the long awaited gold futures trade had greatly boosted the turnover, by 261.5 billion yuan or nine percent of the January turnover in only 17 trading days after it made its debut on Shanghai Futures Exchange on January 9.

"The metal futures, which have larger contract value, are especially active in the past year," said Green Futures Research Director Yu Junli.

Also behind the turnover rise are investors, disappointed by the turbulent stock market, who are seeking profitable alternatives in the country's developing financial markets.

"We are also expecting the introduction of the stock index futures this year," Yu said.




2005-2011 www.researchinchina.com All Rights Reserved 京ICP备05069564号-1