Bloomberg Quicktake | China’s Wild Stock Market Swings Hurt a $21 Trillion Bull Case @BloombergQuicktake | Uploaded October 2024 | Updated October 2024, 23 hours ago.
China’s 200 million-strong army of retail investors was supposed to help the market turn a corner. Instead, it has become a source of weakness. #china #money #worldnews
The country’s $9.7 trillion #stock market experienced a rapid boom and bust starting late September, when central bank stimulus pushed the benchmark CSI 300 Index 25% higher in five days of trading. Many small investors who came late to the party were caught out when equities then slumped, and were forced to beat a hasty retreat.
“Close securities account” as a phrase cropped up 56 million times on social media platform WeChat on Oct. 9, as the benchmark index posted its worst performance since 2020. Money soon shifted back into savings from stock trading accounts, according to a bank index. Retail investors took to social media to lament their losses, with one user on Xiaohongshu saying “the stock market is really not suitable for a novice like me.”
Read more: bloomberg.com/news/articles/2024-10-16/china-s-wild-stock-market-swings-hurt-a-21-trillion-bull-case?cmpid=socialflow-twitter-business&utm_campaign=socialflow-organic&utm_source=twitter&utm_medium=social&utm_content=business&sref=omvmmwIg
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China’s 200 million-strong army of retail investors was supposed to help the market turn a corner. Instead, it has become a source of weakness. #china #money #worldnews
The country’s $9.7 trillion #stock market experienced a rapid boom and bust starting late September, when central bank stimulus pushed the benchmark CSI 300 Index 25% higher in five days of trading. Many small investors who came late to the party were caught out when equities then slumped, and were forced to beat a hasty retreat.
“Close securities account” as a phrase cropped up 56 million times on social media platform WeChat on Oct. 9, as the benchmark index posted its worst performance since 2020. Money soon shifted back into savings from stock trading accounts, according to a bank index. Retail investors took to social media to lament their losses, with one user on Xiaohongshu saying “the stock market is really not suitable for a novice like me.”
Read more: bloomberg.com/news/articles/2024-10-16/china-s-wild-stock-market-swings-hurt-a-21-trillion-bull-case?cmpid=socialflow-twitter-business&utm_campaign=socialflow-organic&utm_source=twitter&utm_medium=social&utm_content=business&sref=omvmmwIg
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Subscribe to our YouTube channel: https://trib.al/KM4k5RA
Subscribe to Bloomberg Originals: https://trib.al/dJv9Uw8
Bloomberg Quicktake brings you global social video spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.
Connect with us on…
YouTube: youtube.com/user/Bloomberg
Breaking News on YouTube: youtube.com/@BloombergQuicktakeNow
