On July 4th, more than 4900 stocks in China’s A-share market experienced a decline, with major stock indices falling. The Shanghai Composite Index dropped by 0.83% to 2957.57 points, while the Shenzhen Component Index fell by 1.58%, the ChiNext Index by 1.75%, the STAR 50 Index by 1.62%, and the China Securities 50 Index saw a small increase of 0.35% against the trend.
The overall market saw nearly 4900 individual stocks closing lower, reflecting a pessimistic market sentiment. The total trading volume of A-shares for the day amounted to 585.9 billion yuan, slightly higher than the previous trading day’s 582.9 billion yuan.
Amidst the market downturn, Hu Xijin, the former editor-in-chief of the Global Times, shared his own investment experience on Weibo. He revealed that he had incurred a loss of 90,000 yuan (RMB) in stock trading over the past year.
Hu disclosed that he entered the stock market at 3144 points, hoping to catch the market bottom and witness the arrival of a bull market. However, the reality of the situation left him feeling helpless, merely becoming a chronicler in the ups and downs of the stock market.
Having invested 700,000 yuan in the stock market over the course of a year, Hu Xijin reflected on his one-year anniversary of trading A-shares on June 26th. Despite a slight profit on that day, he disclosed that the total loss over the year still amounted to a significant 74,597 yuan, which accounted for 10.65% of his initial capital.
In response to the seemingly immortal fall of the stock market, Hu Xijin lamented on Weibo on July 4th, emphasizing the need for mutual comfort and empathy among retail investors facing similar situations.
A Tencent user with the handle 0437652 commented on Hu’s trading strategy, questioning his decision to continuously increase his investment from 100,000 yuan to 700,000 yuan. Meanwhile, another netizen named “Duo Duo” speculated that if Hu had not continued to invest more money beyond his initial 100,000 yuan, in line with the typical investment level of ordinary citizens, a 30% loss would have been considered normal.