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A 26-year-old graduate student at Peking University who would give only his
surname, Zhou, said he has lost around 50,000 yuan [$8,050] on stocks in the
past few weeks, leaving him depressed and scrimping on meals. Mr. Zhou, who
asked not to use his first name since his parents don’t know he has been
trading in stocks, said he blames the steep decline on the government, which
did little to temper frenzied buying, and on state media for playing
cheerleader.
“The People’s Daily made things worse by saying that the 4,000 level was
just the beginning of the bull market,” Mr. Zhou said. “50,000 yuan is a
big deal for a student. Some of this was money my parents gave me for my
wedding.” On Thursday, the Shanghai market closed at 3709.33. |
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