China’s Brokers Skip Holidays to Staff Up for ‘Hectic’ Reopening
- Account openings at major brokerages hit a record high: CCTV
- Buying by retail investors may help add to rally’s momentum
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Brokerages and stock exchanges in China are gearing up for a frantic Tuesday when onshore markets reopen after a week-long holiday, with optimism running high that Beijing’s stimulus measures will give shares another leg up.
Professionals in the information technology, operations and customer service departments at local brokerages canceled their holidays to prepare for a busy trading session, according to state broadcaster China Central Television. The number of account openings at major brokerages hit a record high during the Golden Week break, with overwhelming client demand in both online and offline channels. A Beijing-based brokerage stationed call center agents to answer client inquiries 24 hours a day, according to CCTV’s report.