Chinese Play Market By Their Own Rules
RENEE MONTAGNE, host:
As we've just heard, China's stock market is dominated by small investors rather than financial giants like Goldman Sachs, and even as China's urban middle class is pouring in money, investors don't necessarily understand the mechanics of the stock market. So they play the market according to their own rules. According to a recent article in the Wall Street Journal, a lot of times that involves superstitions about numbers. The number eight is a popular one; that's because the word for eight in Mandarin and Cantonese sounds similar to words for wealth or fortune. But investors tend to stay away from the number four, since its pronunciation can also mean the same as death. And they are often seen wearing red clothes to represent a hot market.
This is MORNING EDITION from NPR News. I'm Renee Montagne.
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