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English>>China Business

Investors look for hope amid sluggish market

(China Daily)

13:17, July 31, 2012

China's stocks slumped on July 26 to their lowest point in three years.

Fears of the European debt crisis and further domestic slowdown continue to weigh on the market.

Over 70 percent of shares saw decline. PetroChina's shares inched down to 9 yuan per share from their peak of 48.62 yuan per share.

Losers outnumbered gainers 705 to 215 in Shanghai and 1,112 to 335 in Shenzhen, according to Xinhua.

Some investors are still cautiously waiting for more supporting data amid the sluggish market in the hopes of a rebound in the market.

Lao Ma is well-know among stock investors in Xi'an. Ma has been investing in the stock market for 16 years.

"Speculating in the stock market is basically my job," Ma told a local newspaper. "I don't care if the market is sluggish, I am in this. As long as the market is here, there's a chance to make money."

A retired worker named Wang is monitoring the stock market closely, too. The money she puts in the market comes from her retirement pension.

"Fifty percent of my investment is held up in the market. The only thing I can do is to check the market everyday and wish the market will bounce back soon," Wang said, according to the newspaper.

Yu, a 78-year-old retired teacher, has gone to the stock exchange every day for 16 years. He always takes notes on the market and analyzes them when he gets home.

"As long as you do your homework well, you will gain from it," Yu told the newspaper.

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