China's futures market sees higher trading turnover, volume in April than year ago

China's futures market saw brisk trading with turnover and volume both up last month, according to data released by the China Futures Association on Monday.

Trading turnover reached 70.18 trillion yuan (about 9.70 trillion U.S. dollars) in April, 23.69 percent higher than in April 2024, according to the data.

Trading volume stood at nearly 809 million lots last month, up 21.49 percent from a year ago, the data showed.

In terms of trading turnover, the top three futures were gold, silver and crude oil at the Shanghai Futures Exchange.

Trading volume in precious metals futures rose sharply in April, as a hedge against uncertainty around U.S. tariff policies, with gold and silver futures increasing by 101.36 percent and 36.66 percent respectively month on month.

Investors have also turned to non-ferrous metals futures, driving up copper and zinc futures' trading volumes by about 20 percent on a monthly basis.

The U.S. tariff policies, which triggered concerns about export demand for new energy products, also drove growth in green products and agricultural products futures, with trading volumes in polysilicon and industrial silicon futures up by 517.34 percent and 47.03 percent month on month respectively.

Trading volumes in futures of agricultural products which are largely imported, such as soybeans and corn, increased in a range between 11 percent to 38 percent month on month.

In April, despite sharp falls in global stock market and hits to international trade from weakening global manufacturing activities and the U.S. tariff policies, China adopted a combination of macroeconomic measures and industrial policies to stabilize its economy and stock market.

Trading volumes of CSI 300, SSE 50, CSI 500 and CSI 1000 stock index futures increased by 28.23 percent, 14.06 percent, 17.27 percent and 69.88 percent respectively compared to one year ago.

As risk aversion sentiment weighed heavily in April, trading volumes of 30-year and 2-year Treasury bonds jumped by 146 percent and 32 percent respectively, year on year.

China's futures market sees higher trading turnover, volume in April than year ago

The Orthodox Easter ceasefire with Ukraine announced by Russian President Vladimir Putin began on Saturday afternoon and will continue until Sunday midnight.

On Thursday, Putin announced a ceasefire to mark the Orthodox Easter holiday from 16:00 Moscow time (13:00 GMT) on April 11 until the end of April 12.

The Russian Orthodox Church welcomed the move.

Russia's Defense Minister Andrei Belousov and Chief of the General Staff of the Russian Armed Forces Valery Gerasimov were instructed to halt all combat operations along every front during this period.

Troops must be prepared to thwart any possible provocations by the enemy, as well as any of its aggressive actions, the Kremlin said in a previous statement.

Russian Human Rights Commissioner Tatyana Moskalkova said that the truce would enable stepped-up efforts to evacuate the wounded and search for missing people.

Ukrainian President Volodymyr Zelensky said that Kiev would honor the ceasefire as well.

Ukraine will adhere to the ceasefire and respond in a strictly reciprocal manner, Zelensky wrote on X.

Last year, an Orthodox Easter ceasefire also announced by Putin was in place from 18:00 local time (15:00 GMT) on April 19 until the end of April 20. According to the Russian Defense Ministry, 4,900 violations of the ceasefire by the Ukrainian side were recorded during that time.

Orthodox Easter ceasefire announced by Putin takes effect, to last through Sunday