Recently, a post circulated online about a post-2000s stock investor in Hangzhou named Zheng Hao. He lamented that after four days of trading, not only did he fail to make any profit, he incurred a loss of 23%. Zheng shared, “In just four days of entering the market, I’ve lost over ten thousand yuan, which is almost equivalent to two months’ worth of my salary.”
The headline “Post-2000s Investor in Hangzhou Loses Two Months’ Salary in Four Days” began trending online.
During the National Day holiday in China this year, the stock market experienced significant fluctuations, resulting in substantial losses for new investors who entered the market recklessly. A week before the holiday, the A-share market surged. However, on October 8th, the market almost hit the daily limit-up at the opening, followed by a sharp decline, erasing nearly half of the gains, trapping a group of young investors including Zheng Hao.
According to reports from “Chengshi Hudong”, Zheng Hao mentioned, “There are people in my family who have been trading stocks. My father started trading in 2007, but it seems that he hasn’t made much money so far, which appears to be the common situation for most old investors. I never expected that as a newcomer to stock trading, I would quickly become an ‘old investor.'”
He remarked, “Around the National Day holiday, there were many online videos, including tutorials on how new investors can open accounts, analyze the market, and some even showcased their investment profits.”
Amid this atmosphere, Zheng Hao, who had only been working for a short while, managed to gather nearly 50,000 yuan and dived into the stock market. However, in the first week following the National Day holiday, instead of making the expected profits of several months’ salary, he incurred losses equivalent to two months’ salary, leading to a significant psychological gap for him. He commented that those who rushed to open accounts were all in a bad situation.
A client manager at a major brokerage firm in Hangzhou confirmed that before the National Day holiday, there was a frenzy of account openings.
Comments from online users expressed the struggles faced by new investors in the stock market:
– “paopaovv0”: “I didn’t even need four days, I lost two months’ salary in just one day.”
– “wii’s family”: “In a while, the losses might mount up to nothing.”
– “This year is already over”: “If the small retail investors lose, others won’t make money.”
The story of Zheng Hao, a post-2000s stock investor in Hangzhou, is just the tip of the iceberg of many new investors who eagerly entered the market and quickly found themselves trapped.
News outlet “Haibao News” interviewed various investors across China on October 12th. Among them, there’s Mr. Yang, a programmer from Chengdu, Sichuan Province (online alias Yapie), belonging to the post-90s generation. On his first day back to work after the National Day holiday, he heavily invested in stocks.
Mr. Yang revealed that he entered the market on October 8th with a purchase of 1.02 million yuan. The second day, he suffered a loss of over 70,000 yuan, followed by a sharp decline of 310,000 yuan on the third day, then a partial recovery of 18,000 yuan on the fourth day, resulting in an overall loss of 320,000 yuan over four trading days.
Xu Xiaoniu, a 30-year-old full-time stock investor from Tongling, Anhui Province, disclosed that despite trading stocks for three years, he has accumulated losses of around 1.5 million yuan.
A woman named Liao from Jinan, Shandong Province, heard from her colleagues about the good stock market trends recently. Immediately after the National Day holiday, she invested 300,000 yuan in stocks, only to see her account shrink by 25% after four trading days. Liao expressed her reluctance to discuss stocks anymore, as she now struggles to sleep at night, unable to face the current situation.
Mr. Zhang, a hairstylist from Xi’an, shared a heartbreaking story about a close friend of over a decade. After years of hard work, this friend had saved up three million yuan, but lost it all in the stock market overnight. Now, he is deeply in debt, his wife is considering divorce, and his business is on the brink of bankruptcy.