(Yicai) Aug. 25 — The famed “street stock market salon” on Shanghai’s Guangdong Road, an informal weekend gathering spot for retail investors, was packed yesterday as punters swapped tips and debated strategies after the city’s benchmark stock index hit a decade high.
The street-side salon’s origins date back to the early 1990s. At that time, with the founding of the Shanghai Stock Exchange and the rise of the stock market, a number of restaurants and cafés near Guangdong Road became places where investors gathered and exchanged views.
The Shanghai Composite Index [SHA: 000001] closed at its highest level in 10 years a week ago, and climbed above 3,800 points at the end of last week. It added a further 1.5 percent today to finish at 3,883.56.
Punters mingle in the sweltering heat next to the Guangdong Road subway station’s entrance.
A market veteran passionately shares his trading experience with younger investors, warning…
