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An investor watches a board exhibiting inventory info at a brokerage workplace in Beijing, China October 8, 2018. Picture by Reuters/Jason Lee
China’s securities regulator launched a crackdown on brokerages utilizing feng shui to foretell inventory market traits of their analysis notes or funding advisory companies, state-owned media reported on Wednesday.
China Securities Regulatory Fee stated it holds “zero tolerance” in the direction of unlawful behaviour within the inventory market and has punished some brokers who analysed, forecast, or supplied funding advices by making use of points of feng shui such because the heavenly stems and earthly branches, often known as tiangan dizhi, Yin-Yang, and 5 Parts, in line with the official China Securities Journal.
The newspaper didn’t supply extra particulars or identify any of the brokerages that have been fined by the regulator.
Some Chinese language brokerages, together with Guosheng Securities and Essence Securities, have acquired warning letters from the regulator over the previous yr after they launched stories by making use of feng shui to type their funding methods, in line with statements on the regulator’s web site, as a few of these notes prompted broad market dialogue.
The most recent crackdown additionally got here at a time that Chinese language inventory markets are experiencing greater volatilities, with the blue-chip CSI 300 Index dropping about 14 % to date this yr.
Hong Kong-based brokerage CLSA publishes a tongue-in-cheek Feng Shui Index forward of the Lunar New 12 months that makes use of the Chinese language zodiac to foretell inventory efficiency and stays widespread amongst buyers.
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