NY Times articled "Chinese United by Common Goal: A Hot Stock Tip"; by Jim Yardley:
...Less than two years after share prices collapsed, China’s stock markets are almost going mad, actually, with the leading Shanghai Composite Index approaching 3,000 and Chinese investors flocking to buy shares in record numbers. The bull market is so powerful — the Shanghai market hit a record high last week and was among the best performing in the world last year — that one senior Chinese official has warned against “blind optimism.”
College students, young professionals, retirees and others are buying individual shares or investing in China’s swelling mutual funds. One mutual fund raised $5 billion in a single day. Day trading, meanwhile, is becoming popular with investors, many of whom monitor the market from home on personal computers.
The run is particularly striking because China’s stock markets have historically been stagnant financial backwaters, marred by scandal, weak oversight and fundamental contradictions. Even as China’s economy has roared, the stock market has rarely inspired public confidence or great interest. China’s markets nearly disintegrated in 2005, and one 2003 poll found that 90 percent of investors had lost money....
No one is arguing that the Chinese markets are now fully reformed, but enough changes have occurred to inspire new confidence. Many state-owned companies, for example, have settled on formulas to begin cleaning up the problems over nontradable shares.
Meanwhile, many Chinese investors are leaving the bubbly national real estate market and moving money into stocks. Roughly 2.7 million new investment accounts were registered last year, more than triple the number from 2005....
approaching 3,000 and Chinese investors flocking to buy shares in record numbers. The bull market is so powerful — the Shanghai market hit a record high last week and was among the best performing in the world last year — that one senior Chinese official has warned against “blind optimism.”
Posted by: christian louboutin | May 30, 2011 at 01:39 AM
The bull market is so powerful — the Shanghai market hit a record high last week and was among the best performing in the world last year — that one senior Chinese official has warned against “blind optimism.”
Posted by: christian louboutin | May 30, 2011 at 01:40 AM
arket is so powerful — the Shanghai market hit a record high last week and was among the best performing in the world last year — that one senior Chinese official has warn
Posted by: ray ban | May 30, 2011 at 01:40 AM