Daily Rise in Internet-related Chinese Stock Prices: Bilibili stock is up 49 percent. Pinduoduo by 37 percent. Even the shares of giant companies such as Alibaba and Tencent are up more than double today. The day before yesterday, DER AKTIONÄR wrote: “Countermovements can be expected in the coming trading days.” What then?
The following explanation for today’s record increases is being passed on by almost all major commercial media and news agencies: State news agency Xinhua reports that China’s leadership wants more stable stock markets and IPOs of domestic companies abroad.
But this is not half the truth.
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