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February 01, 2007

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Scenes from a bubble, China edition #95,395

The Standard tells of the "plunge" (who uses that word except financial journalists?) in China stocks because of fears of a bubble...and the dramatic steps being taken to reign in the speculative excess:

Shares across the border plunged Wednesday, dragging Hong Kong stocks lower, after a top legislator warned that a bubble is forming in the mainland market and securities houses took steps to curb speculation.

Mainland media reported that some securities houses have started to check the identity of investors when they open new trading accounts and are taking photos of new account holders for their records....It is estimated that on average about 90,000 new trading accounts are opened in the mainland every day.
Checking the ID of investors opening new accounts...what a novel idea.

 posted by Simon on 02.01.07 at 09:25 AM in the China economy category.




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 posted by: sfagadf on 02.05.07 at 10:33 AM [permalink]

Who but financial journalists use "plunge?" Man, you're obviously not an aficianado of the eternal, pithy wire service "bus plunge" story from (fill in 3rd World/Developing Nation).

 posted by: Justin on 02.07.07 at 07:47 PM [permalink]




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