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The market capitalization of the Shanghai Stock Exchange (SSE) hit a record high on Thursday, reaching 5.09 trillion yuan (US$636.25 billion), up 120 percent on the end of last year.

 

Observers believe the growth rate of the SSE market capitalization over the whole year may outperform every stock market in the world if the current trend continues.

 

The SSE market capitalization on Wednesday surpassed 5 trillion yuan (US$625 billion) for the first time in history, according to statistics from the SSE.

 

There were 840 companies listed on the SSE as of Thursday with 884 stocks. The market value of circulating stocks is 1.2572 trillion yuan (US$157.15 billion).

 

The SSE was founded on Nov. 26, 1990 and went into operation on Dec. 19 the same year.

 

(Xinhua News Agency November 17, 2006)