China stock market bloodbath
National Day Special Offer! Many investors thought it is light at the end of tunnel for China stock market. But as it turned out, the light was actually from an on-coming train instead. The recent crackdown by Chinese authorities on education and technology companies had wiped off about US$1 trillion off Chinese shares in the past week. The speed and magnitude of the China stock market correction had caught most investors flat footed. Is it really the end of the road for China stock market?
Back in November 2020, the Chinese authorities had torpedoed Alibaba’s Ant Group IPO. Since then, Alibaba’s share price had never really recovered from that devastating blow, falling from the high of US$307 to the present US$189. So for those who think that the current correction in China stock market represented a good opportunity for bargain hunting, it is better to think twice. The fate of Alibaba share price means that investing in China stock market is going to be very, very challenging.
China stock market sees red
Following the Ant IPO saga, the important messaging from China is [This is a premium article. The rest of the content is blocked and can be accessible by …