China’s Speculative Stock Frenzy Spreads to Brokers and Media
- Weak trade data and geopolitical tensions cited as reasons
- Concerns linger over rally given lack of strong fundamentals
Chinese lenders posted a tepid set of first-quarter earnings as they faced deeper margin woes despite being sheltered from the recent global banking jitters.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Frenzied trading in stocks of China’s state-owned enterprises fizzled Tuesday afternoon as sentiment soured on the nation’s weak import data.
An index tracking some of China’s largest state-owned enterprises erased a gain of as much as 1.5% to finish the day 0.9% lower. The broader CSI 300 Index dropped by a similar amount. Brokerage stocks pared earlier surges.