China becomes world's third largest stock market

Beijing, June 19(ANI): China has become the world's third largest stock market, the country's securities regulator said.

According to the China Securities Regulatory Commission, the total market value of the Shanghai and Shenzhen markets hit 3.07 trillion dollars as of the end of May.

The total market value so far was up 393.76 percent compared to the 2003 level, Xinhua news agency reports.

The United States has two of the top three exchanges based on market value.

The New York Stock Exchange (NYSE) is the largest exchange by far with a market value of 9.57 trillion dollars, while NASDAQ exchange has a market value of 2.77 trillion dollars.

Japan's Tokyo Stock Exchange is the second largest stock market with a market value of 3.1 trillion dollars.

In Europe, Euronext is the largest with a market value of 2.26 trillion dollars, followed closely by the London Stock Exchange with a market value of 2.2 trillion dollars. (ANI)