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Today’s focus: The roller-coaster in the Chinese stock market – “Shanghai Uncle” gone? Lai Ching-te’s National Day speech, the Chinese Communist Party is resentful and embarrassed again; a look at the capital flow chart of the Shanghai and Shenzhen markets, revealing the Chinese Communist Party’s “shearing the leeks” strategy; the manic expressions of stockholders, obsessed with riding the wave, only to see hopelessness when it crashes.
On October 10th, it was the National Day of the Republic of China, which is Taiwan’s celebration of its 113th anniversary. President of the Republic of China Lai Ching-te delivered his first National Day speech during his tenure, and it was noteworthy that Lai, who is referred to as advocating for Taiwan independence across the strait, used the term “Republic of China” no less than 10 times in his speech, attracting considerable attention from the public.
During the National Day celebrations on October 10th, Lai reiterated that the Republic of China and the People’s Republic of China are not subordinate to each other, emphasizing that the People’s Republic of China has no authority to represent Taiwan. At the same time, Lai Ching-te proposed four unchanged common goals for contemporary Taiwan’s self-positioning awareness.
As the new President of the Republic of China, Lai Ching-te did not avoid the differences between Taiwan’s various parties and the attitudes of the people towards him. In his National Day speech, he stated his mission as an elected president.
In response to Lai Ching-te’s National Day speech, the Chinese Communist Party is both resentful and fearful, and embarrassed, as the only thing they dare to do is vaguely criticize Lai Ching-te, such as accusing him of “deliberately splitting the historical connection between the two sides of the strait” and warning that “provoking ‘independence’ is a dead end.” They dare not elaborate on what Lai Ching-te specifically said, nor do they dare to let the Chinese people know or see the content of Lai Ching-te’s speech. A post by the Singaporean newspaper “Lianhe Zaobao” directly pointed out the point that the Chinese Communist Party fears the most: Taiwanese President Lai Ching-te said, “In a democratic society, political parties compete internally and unite externally, irrespective of their political stance. National interests always outweigh party interests, and party interests must never take precedence over the people’s interests.”
Some internet users from the Chinese mainland disdainfully questioned how Taiwan, despite being democratic, isn’t recognized by the international community, so why do so many countries establish diplomatic relations with Mainland China and not with Taiwan?
A Taiwanese netizen directly posted a picture in response: although Taiwan only has 16 diplomatic allies, it has visa-free access to 111 countries. China has 178 diplomatic allies, but only 44 countries are truly visa-free, and most of them are not recognized mainstream Western countries. If it weren’t for Chinese Communist Party’s suppression, which country in the world would not want to normalize diplomatic relations with Taiwan? In fact, although most countries do not have official diplomatic relations, the unofficial visa privileges indicate the true status of Taiwan and its people in the minds of these countries.
While Taiwan was celebrating its National Day with performances and fireworks, I estimate that the hundreds of millions of stockholders on the mainland probably had no mood for patriotic fervor this time.
After the end of the National Day holiday in China, the stock market opened on Tuesday (October 8th), and instead of the anticipated “open to close” surge, the A-shares plummeted on October 9th, with the three major A-share indexes opening with a limit down and Hong Kong stocks dropping nearly 10%. What’s frightening is that the market surge before the National Day holiday made numerous Chinese stockholders believe that the bull market was coming, leading many to eagerly invest in this round of profits. Among them, there are a large number of online influencers, with the most famous being the “Shanghai Uncle,” who successfully trapped many people stirred up by his comment on September 5, “rising magnificently, trapping gloriously.”
Did anyone notice the woman holding a flag and wearing glasses behind the uncle speaking? This woman, after listening to the uncle, sold her own house to invest in the stock market. After the A-share plunge on October 9th, the “Shanghai Uncle” with the online handle “Love in Late Autumn” did not reappear, and it is unknown whether he has started a world cruise aboard the country’s largest cruise ship. However, the woman behind him and a group of stockholders in Shanghai and Guangzhou are still waiting for him to give an account.
The manipulation of the stock market to create a continuous bull market is not just the work of this “Shanghai Uncle”; there are many online influencers who are driving the market trends.
There are even people who believed that they hit the jackpot, risking everything – even going against their families – to gamble in the stock market.
Looking at the capital flow chart of the Shanghai and Shenzhen markets on October 9th, you will see that both the main net inflow and the enterprise net inflow are negative, meaning that the funds of the Chinese Communist Party’s elite interest group are all flowing out, while only the red lines represent the money of the vast retail stockholders in China pouring into the market recklessly.
Such a classic “shearing the leeks” tactic, no wonder someone, after seeing this chart, expressed: Can we find the anti-fraud center and report A-share fraud? It’s a thorough state team operation to harvest!
On October 10th, the third trading day of the Chinese stock market, A-shares opened slightly in the red, but retail investors spooked from the previous day were eager to flee as soon as there was a rebound, while major shareholders accelerated their cashing out, making the prospect of a so-called bull market in A-shares increasingly dim. Some used clips from an old movie to satirize the current stock market scenario, leaving people in tears and laughter.
Some have seen through the mentality of Chinese stockholders, saying: Marry someone who invests in stocks. Even if you scold him for three years, as long as you treat him well for a couple of days, he will believe in love again. Some used a video to demonstrate the specific manipulative tactics of the Chinese Communist Party every time they control the stock market, real estate market, and any industry, although it’s talking about “shearing the leeks,” it is enough to make people’s hearts pound.
Some people tactfully but bluntly tell everyone: This time is definitely not about shearing the leeks, please rest assured, this time it’s about uprooting the leeks. Some directly tell people: China’s current stock market isn’t really in a bull market, if you see a bull, that bull is crazy! A crazy bull must be put down! As soon as these words were said, indeed a bull went mad, in Yongzhou County, Hunan Province, a mad bull knocked over a sanitation worker on the street, charged into a store, then a supermarket, and was eventually shot dead by the police.
On October 9th, in the Wangbeilin district of Taiyuan City, Shanxi Province, China, a man named Gao Guohui borrowed money to trade stocks, and upon seeing the market plunge, he attempted to jump from a high building. Sadly, a crowd quickly gathered nearby to watch the scene, and Gao Guohui eventually jumped down from the building. Isn’t this scene a microcosm of present-day China, and what’s more lamentable is that the onlookers might soon become the next ones to be watched.
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