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This Day In Market History: Shanghai Securities Exchange Reopens After 41 Years

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This Day In Market History: Shanghai Securities Exchange Reopens After 41 Years

Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.

What Happened

On Nov. 26, 1990, China reopened the Shanghai Securities Exchange previously closed by the nation’s Communist regime.

Where The Market Was

The S&P 500 closed up at $316.51, and the Dow Jones Industrial Average closed at $2,533.17.

What Else Was Going On In The World

The U.S. and Russia called for Iraq’s withdrawal from Kuwait, and Matsushita purchased MCA Corp. for $6.6 billion in then the largest Japanese buyout of an American company.

China Re-Establishes Largest Exchange

Shanghai became China’s first city exposed to stock trading with the emergence of informal exchanges in the 1860s. The Shanghai Security Goods Exchange and the Shanghai Chinese Security Exchange formally developed in the 1920s, and a decade later, the city was known as the financial heart of the Far East.

Operations halted in 1941 with the Japanese occupation, and while they resumed in 1946, the Communist revolution soon shuttered the Shanghai Stock Exchange long-term.

As China introduced economic reform and more open financial policies in the 1980s, Shanghai began to see more trade activity, and the stock exchange permanently reopened in 1990.

Today, the SSE is run by the China Securities Regulatory Commission as the world’s fourth largest exchange by market cap.

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