Stunned Chinese Investors Ask “Why?” As Stocks End Dismal Week With More Losses
It was wet and gray outside the Shanghai brokerage branch, and just as gloomy inside, as the usual crowd of retirees and housewives stood glumly watching their investments dwindle Friday with each flash of the share price boards.
“If I can make my money back from the market this time, I promised my wife that I will stay very far away from share trading,” said Gu Zichang, a woebegone looking man in his 50s, as the benchmark Shanghai Composite Index fell for the eighth straight session.
“My wife keeps scolding me and I can understand how she feels because I’m also depressed,” he said.
With Friday’s 3 percent decline to 2,868.80, the Shanghai benchmark index has lost 17 percent of its value since it began falling on June 3.
Read also Chinese shares fall to 15-month low on unsettled market sentiment from Xinhua.