Gee, that’s a shame.
And the funny thing is that when people think they are buying shares of a chinese stock on the NYSE, they are really buying shares in some offshore LLC holding company.
I’m really surprised that China put the kabosh on tutoring companies - being that dawn til dusk learning in competition for college placement has kept the youth out of the streets and parents and youth not thinking about other things.
I am sure buying Chinese stocks is hugely speculative. I can’t imagine their financial accounting and regulatory practices are any more transparent than the rest of their society.
Don’t ya know? The Federal Reserve will just make them into a bank. They can borrow all they want and the US Taxpayer will guarantee the loans.
You might think this is sarcasm, but it is probably close to the truth.
Here’s something to add. How many federal employees, in their govrernment-run Thrift Savings Plan, in their volatile mutual funds, have thrown money in Red Chinese stocks?
I have no Yen for Chinese stocks. (I know it’s the Yuan, Wean, Ian or Wuhan but give me a little literary leeway).
Might be a good time to buy some of the big names that have been beaten down.
My guess is that Xi is making sure they know who is boss, but I can’t believe he’s dumb enough to kill all those geese that lay his golden eggs.
Watch for a big rebound of Chinese stocks once the dust settles.
bkmk