Tuesday, July 28, 2015

Chinese farmer invested life savings in stocks, lost it all

Investors throughout China are waiting for the government to step in and buy more stocks so they can close out their positions, but many are losing hope.

Yang Cheng, a farmer in the remote town of Panzhihua in southwest China, was one of many Chinese citizens who started buying up stocks after the government began promoting equity investment as part of a larger plan to expand the country's economy.

"When the market climbed to 4,000 points, I realized the risks were pretty high. However, public opinion on government policies affected my judgment," he told CNBC .... http://www.cnbc.com