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'For our country': China's patriots are buying the dip [Yahoo! Finance]
Last jd.com, inc. - american depositary shares earnings: 3/2 05:03 am
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US:NASDAQ Investor Relations: ir.jd.com
The home designer from China's southern Guangdong province changed his mind after April 2, when the U.S. president announced "reciprocal tariffs", intensifying a trade war with his country. Keen to show solidarity with Beijing, Cao decided he would invest 2,000 yuan ($274) in the local stock market every month. "The goal isn't to make money. It's about contributing to my country," said Cao. He said he opened trading accounts after the higher tariffs hit Chinese stocks. In this trade war, "every individual should stand by the country until the end". Like Cao, many retail investors are joining the state-backed "national team" to defend the stock market - another battlefield in the broadening Sino-U.S. conflict, traders and brokers say. Buying has been focused on sectors set to benefit from China's national agenda, such as defence, consumer and semiconductors. The patriotic fervour is unusual in small investors, notorious for their casino mentality, and a welcome change for auth
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