Shanghai Stock Exchange Photo:CFP

The Shanghai Stock Exchange (SSE) completed all trading tests on Sunday, with the bidding system receiving 270 million orders, which is double the historical peak and three times the number of orders submitted on Friday. The system's overall performance during testing was stable and met expectations, Jiemian News reported.

Earlier, the SSE announced plans to conduct trading tests on Sunday, aimed at validating the performance of its trading platforms in handling large volumes of orders, the Securities Times reported. 

This move followed transaction delays during the stock trading on Friday. 

China's recent favorable policies including a cut in reserve requirement ratio and interest rates to support economic recovery have notably boosted investor expectations, according to Yang Delong, chief economist at Shenzhen-based First Seafront Fund.

The focus on attracting long-term investment, enhancing the quality of listed companies, and safeguarding the interests of small and medium investors is instrumental in bolstering confidence among investors, Yang told the Global Times.

Amid a surge in securities account openings driven by market trends, the China Securities Depository and Clearing Corporation (CSDC) has decided to temporarily operate on Sunday to manage the high volume of account reviews. 

Typically, CSDC does not conduct business on weekends, according to the Securities Times.

Backed by a series of supportive measures, Chinese A-shares continued their upward momentum on Friday. The momentum followed a strong performance on Thursday that saw the Shanghai Composite Index break through the 3,000-point mark. 

By the close of Friday trading, the Shanghai Composite Index rose by 2.88 percent, finishing at 3,087.53 points. 

The Shenzhen Component Index surged by 6.71 percent, closing at 9,514.86 points. The ChiNext Index experienced a remarkable 10 percent surge, marking its largest single-day gain in history, ending at 1,885.49 points.

Global Times