A record 3.3 million people signed up to ride China's dicey stock …
A record 3.3 million people signed up to ride China’s dicey stock market last week – Quartz
Room for everyone.(Reuters/Will Burgess)
SHAREWritten byRichard Macauley
Obsession
April 24, 2015
The surging stock markets in both mainland China and Hong Kong in recent weeks have drawn plenty of people to suggest that, when something rises so fast, it can only end badly. If the sheer volume of eager traders is anything to go by, Chinese stocks are unlikely to return to normality any time soon.
Last week, 3.3 million people in China opened new brokerage accounts to buy “A-shares,” as Chinese mainland-listed stocks are called, according to the China Securities Depository and Clearing Company.
ShareTap image to zoomThat brings the number of people able to buy and sell shares in Shanghai, Shenzhen, and—thanks to a recent Shanghai-Hong Kong hook-up—Hong Kong, to almost 200 million.
Over the past two years, signups averaged fewer than 300,000 per week. Even at the height of China’s last bull market, in 2007, the most weekly signups was still only half last week’s volume.
4 hours ago
What’s Cookin’
We’re live-charting Apple’s very strong second-quarter earnings report
6 hours ago
#BLACKLIVESMATTER
Before you judge the Baltimore protesters, read this Orioles executive’s defense
2 hours ago
Reservation to prison pipeline
Native Americans are the unseen victims of a broken US justice system
6 hours ago
NIGHT WOLVES
Poland puts a stop to a pro-Putin biker gang’s European invasion
2 hours ago
AMAIZING
Chipotle can’t get rid of GMOs unless it stops selling corn
7 hours ago
Walking New York
Photos: Giant, quirky street art portraits make celebrities of American immigrants
5 hours ago
Dr. Oz is popular because the truth is boring
6 hours ago
The deadliest, and costliest, earthquakes in recent history
12 hours ago
CLEAN ENERGY
Audi is making fuel from air and water
7 hours ago
Game Over?
Greece muzzled its combative finance minister and investors couldn’t be happier
7 hours ago
It’s becoming utterly clear: The US is fine after a frigid first quarter
7 hours ago
#Twitterati
The tide has already turned against Jay-Z’s expensive streaming music service
7 hours ago
Apple
An inside look at how Apple vets iOS developers for their wondrous launch demos
9 hours ago
Start small
Super strong mini robots can haul up to 2,000 times their weight
10 hours ago
US Chipotles are taking GMOs off the menu
10 hours ago
10 hours ago
If OPEC is dead, how is Saudi Arabia still calling the shots in the oil market?
April 27, 2015
Eeny meeny miny moe
Want to work at a startup? Here’s how to pick the right one
12 hours ago
Mosque and state
Demand for illegal Islamic kindergartens is growing in Kyrgyzstan
April 27, 2015
A Google engineer killed on Everest photographed some of the world’s highest peaks for “Street View”
April 27, 2015
April 27, 2015
April 27, 2015
April 27, 2015
Powered by WordPress.com VIP
This website uses technologies not supported by this browser. For the best experience please upgrade your browser. Learn more »
We’re currently experiencing technical problems and working with reduced functionality. We should be back in full shortly. Follow us on Twitter for further updates »
Your browser doesn’t support Javascript or has it disabled. QZ.com works best with Javascript enabled.
See original –
A record 3.3 million people signed up to ride China's dicey stock …
