Chinese Stocks Smash Records with 3.45 Trillion Yuan Turnover Post-Holiday

Mainland Chinese stock exchanges witnessed an unprecedented trading frenzy on Tuesday as financial markets reopened from the week-long Golden Week holiday, shattering historical records with a combined daily turnover of 3.45 trillion yuan ($490 billion).

The benchmark CSI 300 index rocketed by as much as 10.8 percent at the opening bell in Shanghai and Shenzhen, triggering order execution throttles across retail brokerage platforms as millions of domestic investors rushed to participate in the state-fueled rally.

Historic Trading Volume Swamps Mainland Exchanges

The buying tsunami follows aggressive monetary easing unleashed in late September by the People's Bank of China, which slashed reserve requirement ratios, lowered key benchmark interest rates, and launched targeted liquidity facilities to support equity valuations.

Initial morning gains moderated as investors digested a widely anticipated press conference by the National Development and Reform Commission, which pledged to frontload 200 billion yuan in capital spending but stopped short of unveiling large-scale consumer stimulus bazookas.

“We are fully confident in achieving our full-year economic and social development targets through coordinated policy implementation and frontloading capital expenditures.” — Zheng Shanjie, Chairman of the National Development and Reform Commission

Economic Planner Outlines Fiscal Policy Execution

Despite afternoon profit-taking that brought the Shanghai Composite up 4.6 percent at the close, trading volumes easily surpassed the prior record of 2.6 trillion yuan established just before the holiday recess.

Global fund managers remain closely tuned to forthcoming announcements from China's Ministry of Finance, watching for anticipated sovereign bond issuances designed to recapitalize state banks, support municipal debt restructuring, and revive domestic consumer sentiment.

Sources

• Shanghai Stock Exchange
• National Development and Reform Commission