Senior Correspondent, Lianhe Zaobao
Translated by Grace Chong, Candice Chan, James Loo
Despite a weakening economy with deflation risks and disappointing corporate profits, China’s stock index has climbed. Analysts and investors are divided on the sustainability of this market trend. Lianhe Zaobao senior correspondent Chen Jing looks into the matter.
On 3 September, while most Chinese were glued to their TVs watching the country’s military parade showcasing its cutting-edge weaponry, a WeChat group of stock investors in Shanghai was more focused on the falling stock index instead.
At 11 am, someone asked: “The military parade’s over — why hasn’t the market rebounded yet?”
Another likened themselves to garlic chives — constantly cut down only to regrow and be exploited again: “Looks like we ‘garlic chives’ are the ones paying for today’s parade!”
That day, the benchmark Shanghai Composite Index fell 1.16% to…
