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Enthusiasm in B-Stock Leads to Phone Line Congestion
Like the surging B-stock values, commission calls flooded into securities markets, leading to a serious congestion in the phone network in the city of Shanghai.
Local telephone companies have resorted to emergency methods to help keep the city's telephone network on track.
After China opened the gates on B-stock trading to individuals, over 20,000 B-stock accounts were opened in the first two days when the B-stock market resumed Wednesday.
Sample statistics from a street telephone bureau showed that average long distance calls into the city, which usually stands at around 4,500 every day, rose to over 10,000, 9,000 of which were entrusting calls on stock trading.
In some areas, less than one-tenth of the calls could get through as a result of inflating enthusiasm in B-stock trading.
The phone network reached its' peak in the morning when most traders tried to dial through to entrust deals before the market opens.
Moreover, many traders dialed again and again to find out if deals have been made while those who have stock in hand are reluctant to sell it out.
Despite that many security markets did enlarge their phone network capacity ahead of time, the result turned out that they still underestimated the enthusiasm of investors.
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