Beijing
The Chinese have caught day-trading fever, sending the Shanghai Stock Exchange into the stratosphere. The first two weeks of January saw trading volumes at $154 billion—more than one-fifth of the volume for all of last year, which was triple that of the year before. “When I go to the beauty salon, even the girls who give me a manicure are talking about stocks!” consultant Shirley Lei told The New York Times. The enthusiasm alarms regulators. Exchange officials warned that the online trading systems might collapse under the volume, while bank officials said they would refuse loans to people who intended to buy stocks.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
-
Netherlands split on WFH for sex workersSpeed Read Councils concerned over 'nuisance' of at-home sex work, but others say changes will curb underground sex trade
-
'He adored Trump, and then rejected him'Today's Newspapers A roundup of the headlines from the US front pages
-
The Thursday Murder Club: who's in the film and what we can expectSpeed Read Author Richard Osman reveals starry cast set to play his 'septuagenarian sleuths'
