Shanghai Bourse Is Back, but Can It Make Money?
SSE stock investors were busy trading but not necessarily making money. The Shanghai Composite Index was one of the world's worst performers in 2013, falling 6.75% year on year.
And SSE, the world's seventh largest exchange by market capitalization, was the only bourse among the world's top 10 to post a decline in total equity market cap last year, according to data released Jan. 24 by the World Federation of Exchanges.
SSE's total market cap shed 5% of its value in yuan, or 2% in terms of U.S. dollars last year, the federation said. By contrast, Nasdaq's market cap grew 33% and the London Stock Exchange saw a 30% increase in dollar terms.
Shanghai Stock Exchange Transaction Volumes, 2010-2013
Year All-Year Turnover (yuan) Average Daily Turnover (yuan)2013 22.9 trillion 96.09 billion 2012 16.4 trillion 67.45 billion 2011 23.9 trillion 97.85 billion 2010 30.3 trillion 125.3 billion Source: People's Bank of China
This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.
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