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The Chinese investors riding the storm

Thursday, August 27, 2015 - 01:27

Chinese stocks have lost around 20 percent in market value this week, with many investors suffering big losses. But that isn't deterring Beijing investor Wang Wei, who is happy to ride out the volatility. Ciara Lee reports.

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In a week that's seen Chinese stocks lose around 20 percent of their market value, some Beijing investors have endured huge losses. Wang Wei isn't one of them. He started playing the stock market in 2006 and by chance his stock actually rose almost 100,000 dollars in the period around "Black Monday." (SOUNDBITE) (Mandarin) 40-YEAR-OLD BEIJING ENTREPRENEUR AND STOCK MARKET INVESTOR, WANG WEI, SAYING: "Stock trading and my life are very closely connected. Why invest in the stock market? To reap the benefits, and have a share of the country's big feast." But there are concerns the country's "big feast" could be more of a controlled diet - with China's slowing economy shaking markets around the world. And even Wang warns trading takes a certain skill. (SOUNDBITE) (Mandarin) 40-YEAR-OLD BEIJING ENTREPRENEUR AND STOCK MARKET INVESTOR, WANG WEI, SAYING: "China's stock market, even if you call it a casino, it still has its rules. With casinos in Las Vegas, you can't look at your opponents' cards. But in China's stock market, other people can look at your cards" Wang doesn't always win - in June and July he lost nearly two thirds of the $620,000 he'd made over the previous nine years. But he remains undeterred by the volatility. He's not alone - unlike most developed-world bourses, the Chinese stock market is dominated by retail investors. And that could be part of the problem, particularly in a country where gambling is illegal and many bet on the stock market in the absence of a casino.

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The Chinese investors riding the storm

Thursday, August 27, 2015 - 01:27