China’s state media asks stock market traders to be rational

China’s major state-owned financial media outlets on Tuesday carried front-page commentaries, asking stock markets to be rational. 

The Shanghai Composite Index jumped over 5.5% on Monday despite the worrying increase in the coronavirus cases across the globe over the weekend. The bullish move was reportedly fueled by the positive comments by the Chinese state media. 

As noted by popular analyst Holger Zschaeptiz, China’s Securities Times said that the bull market is now more important than ever, following which social media in China exploded with searches for terms “open stock account” and “margin buying.”