Prominent Chinese Journalist Hu Xijin Suffers close to $9,000 Loss in Stock Market Decline
The stock market is once again being shaken, with the latest victim being the prominent Chinese journalist and political commentator, Hu Xijin. As of January 17th, A-share stocks experienced a significant decline, resulting in a total loss of 63,229.3 yuan for Hu Xijin. In response to the downturn, Hu Xijin has urged the Chinese government to take immediate action to reduce market misinterpretation, reduce discrepancies, and restore market confidence.
17 January 2024
Hu Xijin posted his latest stock trading diary on the same day, stating that the stock market experienced a significant decline, with a personal loss of 2%, or 8,554 yuan. The net loss had exceeded 60,000 yuan. Hu Xijin admitted that the stock market's decline exceeded his previous experiences and common sense framework, and he believed that the most important thing he should do is to face reality.
He believed that there were some extremely pessimistic interpretations of the current situation, as well as misinterpretation of policy signals, which were inconsistent with the actual situation. Hu Xijin's cognitive framework was that there was a certain degree of space for these deviations, but on that day, he realized that the space was too large. He was concerned that this deviation could continue and eventually become a reality. Therefore, he believed that the country needed to take immediate and effective actions to reduce misinterpretation of the market, reduce discrepancies, and rebuild market confidence.
Some Weibo netizens expressed their sympathy and sarcasm: some shared that they had also suffered heavy losses in the stock market, while others joked that Hu Xijin's popularity on social media had increased, further emphasizing the negative impact of the stock market on Hu Xijin's personal life. However, some also pointed out that Hu Xijin's comments were based on rational analysis and urged others not to underestimate the stock market.
Although Hu Xijin's losses in the stock market are significant, his overall impact on the Chinese stock market is limited. However, his call for the Chinese government to take action has received widespread attention and support from the public. The Chinese government has always emphasized the importance of economic stability and the resumption of economic growth, and has been actively implementing various measures to stabilize the stock market. However, Hu Xijin believes that these measures are still insufficient and have been affected by some interference.
In conclusion, the latest stock market turmoil has once again reminded the public of the importance of the stock market and the need to strengthen market regulation and supervision. Hu Xijin's personal experience of heavy losses in the stock market has also made people more aware of the risks of stock investment. Under the current situation, the Chinese government needs to continue to take action to stabilize the stock market, rebuild market confidence, and ensure the healthy development of the Chinese economy.
