Shanghai stock exchange stock exchange (SGX) has become the most expensive fashion destination in China, according to a new study.
The benchmark Shanghai Composite Index (SCI) rose 2.2% to 2,742.23 points on Thursday, while the Shenzhen Composite Index increased 1.3%.
The index is the benchmark for the Shanghai and Shenzhen composite cities.
The Shanghai Composite is considered to be the most closely watched index in the world.
The Shanghai Stock Exchange (SGEX) opened its doors on January 17 and is the first of China’s stock exchanges to open since the end of the second world war.
It has attracted a huge number of Chinese investors as the market has been largely shut down since May 20.
With a global population of more than one billion, China’s economy has long been one of the world’s most important for global commerce.
China’s trade with its biggest trading partner, the US, grew more than fivefold in the decade up to 2020.
According to the study by the Shanghai Composite Research Centre, SGX’s market capitalisation rose to more than $7 trillion in 2020, from $3.4 trillion in 2011.
“We think this is a new high for SGX, as the Shanghai Stock exchange is the most important benchmark for Chinese retail traders and investors in China,” said Shun Wang, head of research at SGX.
“This new index represents a significant step forward for SGEX, which has seen its share price grow more than 20% since its debut in 2010.
SGX is currently in a period of great volatility, with the Shanghai stock market still in its early stages of expansion.
We expect the SGX index to increase further, with a further increase in 2020 and beyond.
More: The index is expected to continue to expand at an average annual rate of over 7% over the next two years.”
On a regional basis, SGEX has seen a dramatic increase in the number of markets, as well as the number and size of trading hubs.
Its market capitalization has grown from $4.5 trillion in 2010 to $7.3 trillion in 2021, with more than 80% of the markets being established in the city of Shanghai, the world-famous financial centre in the south of China.
On top of this, SGEx is also the most-traded benchmark in the Shanghai metropolitan area, accounting for more than a third of the region’s GDP, and a quarter of the Chinese city’s total GDP.
In terms of retail markets, SGex has been a popular destination for the Asian fashion world, and it has been the destination for many fashion brands such as Burberry, J.
Crew, Ralph Lauren and Dior.
On the international level, the Shanghai index has grown by nearly 10% over last five years, while SGX has grown nearly 30% from 2011 to 2020, according the study.
A total of 1.6 billion shares of the SGEX are traded daily, with 2.7 billion shares being held by foreign investors, according To Be Continued.
(Source: Shun Xu, Shanghai Stock Exchanges) (Image: Flickr user jmf)