Jul
06
Chinese Investors Who Borrowed Are Hit Hard by Market Turn
By
SHANGHAI — With his stock market riches, Gong Yifeng bought a riverfront apartment here for his son and daughter-in-law. He can eat well and travel abroad. He can also afford to pay for his granddaughter’s education.
But the losses are rapidly piling up for Mr. Gong, a retired shipyard worker. With China’s stock market 30 percent off its highs, his portfolio is down more than $30,000 in the last few weeks.
“I don’t need a high-flying market, just a stable one,” Mr. Gong said.
Millions of ordinary investors like Mr. Gong, who piled into an ever-soaring Chinese stock market over the last year, are bracing for a roller-coaster ride…
Chinese Investors Who Borrowed Are Hit Hard by Market Turn
