Posted 1/27/2024, 2:00:16 AM
Wong Kar-wai's Blossoms Shanghai Offers Sobering Reality Check for Chinese Stock Investors Pining for Past Glory Days
- Wilting fortunes Wong Kar-wai’s Blossoms Shanghai drama series offers stock investors painful reality check on past glory
- At the time of the drama’s setting, Shanghai’s equity market in real life was barely two years old. The all-share Shanghai Composite Index soared 167 per cent that year.
- Today, not much resembles the reels in Blossoms Shanghai. China’s legion of 200 million retail investors – double the membership of China’s Communist Party – can be forgiven for hankering for the gravity-defying bygone era.
- Retail investors, shorn of the financial firepower and acumen of institutional fund managers, habitually pin their hopes on government incentives to spark a rally.
- Some of the world’s biggest money managers, including Fidelity International and Franklin Templeton, are forecasting a rebound in Chinese stocks.