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.
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.
-
Home Depots are the new epicenters of ICE raidsIn the Spotlight The chain has not provided many comments on the ongoing raids
-
Why does Trump keep interfering in the NYC mayoral race?Today's Big Question The president has seemingly taken an outsized interest in his hometown elections, but are his efforts to block Zohran Mamdani about political expediency or something deeper?
-
The pros and cons of banning cellphones in classroomsPros and cons The devices could be major distractions
