On Friday, November 22nd, all three major A-share indexes fell together, with over 4900 stocks dropping. Hu Xijin, former editor-in-chief of the Chinese state media Global Times, revealed on social media that he lost 12,000 yuan that day. This was the latest stock trading diary he disclosed after the unsealing of his personal social media account, but the related information was quickly deleted.
November 22nd saw continued volatility in the A-share market, with major indexes collectively tumbling close to midday closing. In the afternoon, the three major indexes continued to widen their declines, with the Shanghai Composite Index falling below 3300 points.
At the close, the Shanghai Composite Index closed at 3267.19 points, down 3.06%; the Shenzhen Component Index closed at 10438.72 points, down 3.52%; and the ChiNext Index closed at 2175.57 points, down 3.98%. With over 4900 stocks falling, only over 400 stocks rose.
Hu Xijin, the former editor-in-chief of the Global Times, released his latest stock trading diary for the day, describing the stock market situation: “It’s been a long time since I talked about the stock market, but I, Old Hu, have never really left… Today, the market plummeted by over 3%, and Old Hu also suffered new losses, losing over 12,000 yuan.”
Hu Xijin also discussed the continued volatility in the A-share market this year: “At my most difficult time, I lost a total of over 120,000 yuan, but thanks to the sudden surge at the end of September, Old Hu luckily turned profitable by selling everything. By October 8th, I remember my floating profit was 56,000 yuan. After that, there was a big drop followed by a rise again. However, the repeated downward trend since last week has consumed most of my profits.”
Reflecting on Hu Xijin’s stock trading journey, he had been “tried by his words” for continuously publishing stock trading diaries.
On July 23rd, Hu Xijin released his latest stock trading diary: “Today, a drop of 14,311 yuan, the total loss rose to 93,300 yuan, a drop of over 2% for the full portfolio. This is one of the most serious single days of losses I’ve had since entering the market over a year ago.”
As A-shares continued to decline this year, Hu Xijin’s losses gradually increased, and like many retail investors, he bought more as the market fell, increasing his positions multiple times. At the same time, he continued to showcase the “grim situation” of the Chinese stock market on social media.
On July 25th, the three major A-share indexes weakened and fluctuated throughout the day. After the market closed, Hu Xijin released his latest stock trading diary, stating, “Today, another drop of 5,660 yuan, the total loss exceeded 100,000 yuan for the first time. To have turned stock trading into such a result, I feel somewhat shameful.”
Continuing to showcase the “grim situation” of the stock market, Hu Xijin clearly crossed the “red line” set by the Cyberspace Administration of China, sparking criticism from many pro-government internet users.
On July 30th, Hu Xijin’s Weibo account with over 24 million followers was banned from posting. Just a week earlier, the Cyberspace Administration of China had issued a statement, citing the influence of “stock market essays” on the market, resulting in the ban of a large number of online accounts.
In early October, the A-share market saw a rare uptrend with official support. Until October 9th, A-shares experienced a heavy blow, with over 5000 stocks falling across the market, over 3000 stocks dropping by more than 9%, and 854 companies’ stocks hitting limit down. Hu Xijin’s Weibo account was unblocked on October 31st. Since then, there have been few mentions of the stock market situation.
After Hu Xijin released his latest stock trading diary on November 22, the related Weibo posts were quickly deleted, sparking heated discussions among netizens.
Many netizens commented, “Hu Xijin just suffered a big loss right after being unsealed, making people wonder if the main players deliberately targeted him.” “The reason for the A-share crash has been found. Hu Xijin talks about the stock market again right after being unsealed.”
“Anyone with infinite ammunition can win. Remember, he started trading with 100,000 yuan, and now he’s invested another 700,000 just to profit. Ordinary people have no hope of breaking even.”
“According to Hu’s style from a few years ago, he might have said that the shorts were hostile forces. Now, he probably dares not say that, right?”
“Hu invested 7 million, and he still has money left. He only invested 700,000 to make a profit, with his traffic income far exceeding 700,000. His mindset is better than 99% of retail investors, so he will definitely make money in the end.”
Previously, Hu Xijin, in an interview with Chinese media, stated that his stock trading was not only for making money but also to “stand with the country through thick and thin.” Liu Jipeng, director of the Capital Finance Research Institute at China University of Political Science and Law, commented that the money Hu Xijin earned from stock trading is far less than what he has gained in terms of traffic due to engaging in stock trading.