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Chinese Stock Trading Plummets in New Sign of Waning Confidence

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******** Stock Trading Plummets in New Sign of Waning Confidence

(Bloomberg) — Share transactions in China shrank to their lowest level in over four years, as a local bond rally hit fever pitch in a weakening economy.

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Turnover on the Shanghai and Shenzhen bourses fell to a combined 496 billion yuan ($69.1 billion) on Monday, the thinnest since May 2020. That was also the lowest versus China’s entire market capitalization since late 2019.

As the world’s second-largest stock market is on track for its fourth consecutive year of losses, an unprecedented housing crisis has further limited investors’ options, prompting surging demand for government bonds that has alarmed regulators. While a sharp drop in trading volume often signals pessimism is near a bottom, several such episodes in China in the past few years have preceded panic-driven selling that pushed the market to new lows.

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