China’s inventory markets are beginning within the pink for the third yr in a row | EUROtoday

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Hu Xijin has not had a great hand on the inventory market up to now. He bought concerned in the summertime and, in response to his personal statements, invested a complete of 480,000 yuan, virtually 62,000 euros, over the course of the six months. He was certain that the Shanghai inventory market wouldn’t fall any additional. The 3,144 factors at which the Shanghai index stood on the finish of June should have been the bottom level. Hu was unsuitable. The SSE Composite now stands at 2893 factors. It will not be identified which shares he invested in. But his losses quantity to round 7,500 euros, he wrote on Tuesday.

Gustav Theile

Business correspondent for China based mostly in Shanghai.

Hu will be capable of deal with it. Because he isn’t just any non-public investor, however one of many best-known propagandists within the nation. Until his resignation two years in the past, which was accompanied by accusations, he was editor-in-chief of the tabloid celebration newspaper “Global Times” for a decade and a half. He nonetheless has his personal part there known as “Hu Says” through which he feedback on world politics. He has greater than 40 million followers on social media, together with 24 million on the Twitter-like Weibo alone. He provides on-line updates about his portfolio virtually day by day, initially showcasing his patriotism and perception in China’s financial system. On Monday he wrote: “I feel the pain of retail investors firsthand.”