Andy Xie Sees Massive Chinese Stock Market Bubble

it is getting serious, however it could go on like this for another 2-3 years, shanghai was up over 130% last year and this year after falling nearly 10%, the market is up 40% in only 2 months.


So far, the stock market has climbed more than 40 percent this year, building on last year's meteoric 130 percent rise. Not surprisingly, people from across the country have been trying to get a piece.

More than 11 million new trading accounts have been opened since the beginning of this year, or twice the total number opened last year, according to the China Securities Depository and Clearing Co Ltd.

Altogether, there are now 90 million trading accounts in China, accounting for 7 percent of the country's 1.3 billion population.

The growing ranks of investors are not just pouring money into the market they are diverting an increasing amount of energy to it.
 
I was talking to a guy this weekend who has been investing in the Shanghai market for the last 2 years. He is well connected and told me that it is a rigged market used essentially to pay off corrupt Chinese officials.
 
Quote from a529612:

That's nothing. If they start walking the street for money to buy stock, then that would get my attention. :D
More...

Either way, they're gonna get a large one up the ass.
 
You must log in or register to reply here.
Back
Top