Shops, restaurants and cinemas may be deserted in many parts of virus-plagued Ch...
SHANGHAI - Shops, restaurants and cinemas may be deserted in many parts of virus-plagued China, but online trading forums, internet roadshows and analyst calls are teeming with investors who have driven up stock trading volumes to nine-month highs.
Strategists are busy meeting anxious investors online to dispense tips on how to trade the coronavirus, while fund managers aggressively pitch products via live video streaming, with face-to-face conferences banned and many offices still closed. “The government is injecting liquidity to aid the virus-hit economy,” said Shanghai-based hedge fund manager Li Zhen, who has been trading at home since the outbreak began around the start of the Lunar New Year in late January.Investor enthusiasm is highlighting a long-standing disconnect between China’s stock market and its real economy.
“Investors who missed last year’s bull run are taking advantage of the correction to get onto the ride,” said Huang Wei, a former Wall Street trader who has recently set up a trading forum on China’s WeChat messaging platform that offers paid stock recommendation services to retail investors.
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