What could possibly go wrong?
– WTF Chart Of The Day – Chinese New Share Accounts Edition!!!! (ZeroHedge, April 23, 2015):
We’ve all seen Chinese stocks explode in the last year; we’ve all seen margin lending soar to fund this exuberance; we’ve all read the dominant buyer in this trading frenzy is high-school-educated housewives; and we’ve all seen the analogs to the 2000 dotcom bubble. But, we guarentee you have never – ever – seen anything like this…
The number of new A-Share accounts opened just last week was a mind-boggling 3.25 million!!! That is double the number opened in the peak euphoria stage of the 2007 bubble…
This wil not end well…
and end it will – one way or another, tonight’s rumor about a possible transaction tax (later denied by the CSRC) seems to have spooked more than a few…
