Breaking News – News of 300 share traders trashing the Shanghai Stock Exchange blocked by Chinese officials
According to SOH sources, in the afternoon of June 17, over 300 angry share traders in Huangpu, Shanghai trashed computers, monitors and vehicles at the Shanghai Stock Exchange (SSE) after 10 consecutive losses. The situation was controlled by military police but reports of the incident have been taken off most websites.
Phoenix Website breaking news reported that prior to the market closing, a 70 year old man yelled “beat up XXX” at the SSE, and trashed his computer. Security personnel on site sought to restrain the man, leading to the other 300 or so stockholders breaking out in conflict with security personnel. The clash left many display monitors, and computers broken.
The report also said that before the clash ended, there were up to 150 military police, with over 10 male stockholders spraying the words “if the market doesn’t rise, don’t think about reopening” on the walls of some brokers. This news report has now been taken off the Phoenix website, and postings on other websites have also been removed.
The Chinese stock market has been on a downward spiral and last week it had the biggest fall in 12 years. The index over June 16~17 was low as 2769 points, the lowest in 15 months.
According to joint surveys of Chinese official websites, 92.51% of share traders have experienced losses on the stock market, and only 4.34% have profited. This wide spread loss is rarely seen in the history of the stock exchange.
The above news is brought to you by Tian Yue and Chris Thomas for Breaking News on the SOH Radio Network.
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