tv Asia Insight PBS May 11, 2016 11:30pm-12:01am PDT
these are individual investors who buy and sell stocks on their own. people who have made money in the stock market or those who have lost their savings exchange information here. suppos supposed forecasters predict stocks. this is what investors want the most. the shanghai stock exchange crashed last year, and economic
growth slows in china, stock prices continue to falter, amidst fear of an economic slowdown. within such an environment, investors constantly debate whether to sell their stocks or keep their hopes up. individual investors who comprise 80% of the chinese stock market are now desperately clinging to stock market forecasters. this report engulfs six months of the market salon goers.
shanghai leads china's economic development. the center of the city is home to the street stock salon. at around 1:00 p.m. on a weekend in marshes people begin to get together. several people are gathered here. stock forecasters are preparing to open shop. investors want the information these forecasters offer about future stock market movements. for further details, investors have to pay the forecasters.
the shanghai composite suddenly surged in november of 2014. and surpassed 5,000 in roughly six months. however, when the government regulated some market transactions out of fear of a bubble forming, stock prices plunged. the composite hovered at around 3,000. in october 2015, wang predicted that the composite would move as follows.
wang doesn't make predictions on his own he collects information from various sources and charges clients for the information. usually a national certification is necessary to charge people for stock price analysis and forecast, but wang doesn't have that certification. he often spreads unverified information and makes bad predictions. but many people still flock to him.
she lost her husband six years ago and inherited his stocks. she also bought more shares on her own but she lost most of her investments in last year's stock market crash. in october 2015, she visited the street stock salon for the first time. she was laid off from the company she worked for. and lost every source of income. she was hoping to increase her limited funds through stock transactions. that's when she met wang.
she has no particular qualifications, and her age. she lives in a coop doundo in t suburbs of shanghai, which she and her late husband purchased 16 years ago. although she doesn't need to worry about rent, she has had to cut down on all other spending. xu's biggest concern is her son's college tuition and living expenses. he currently lives in a dormitory.
xu waonce tried to stop stock tra trading, but then she decided to purchase stock recommended by wang. she hopes that the purpose will help her make up for her losses. she doesn't plan on telling her son about her purchase. this is the city's public facility facing the street stckk salon. on the weekends, investors and
forecasters exchange information in this building as well. a man begins opening shop near the entrance of the building. for eight years now, he's been selling computer software that analyzes stock price movements. he sets up shop wherever he pleases. this customer came today to update to the latest version of the software, which he purchased from feng before.
feng actually developed the software himself. he sets his own upper and lower limits on each stock and aims to make profit within that range. he says the system aims to minimize losses, even if the profit margin is small. feng doesn't using tactics like raising his voice to get attention in the salon.
he doesn't make bold statements, either, but a lot of people still come to him. on a weekday when the salon isn't open, feng is at home in the suburbs. feng has withbeen living here f ten years since his wife passed away. this is a complex built for laborers in the 1950s. at 8:30 a.m. when stock trading begins, feng sits in front of his computer. he manages his clients' funds. his proprietary software
calculates the best timing for a stock transaction. when he makes a profit, he gets a 30% commission. he says his annual income exceeds $60,000 u.s. many people ask him for advice on stock trading. f feng developed this software eight years ago. before that, he used to develop information more casually and sell information to investors.
feng stopped being a forecaster and began developing software for stock analysis. he says that's because he has made many mistakes in the past, triggered by greed. feng began trading stocks 25 years ago. having successfully made more than 200 times his original capital, feng used the profit to launch a construction-related business. but he was tricked by a major client and ended up with a large amount of debt. it took feng ten years to repay
his debts. and when he finally did, his wife died of illness. but he ultimately lost money in stocks and decided to never invest his own funds into the market. after studying hard for four years, feng finished developing his own computer software. he has since been focusing on using objective data and calmly making decisions without being derailed by greed.
hello there. welcome to nhk "newsline." it is tuesday, may 12th, 9:00 a.m. i'm catherine kobayashi in tokyo. nhk has learned that nissan motor is in the final stage of negotiations to effectively acquire scandal-hit mitsubishi motors. sources tell nhk nissan could spend over $1.8 billion to take a take in the ailing firm. the move would make nissan mitsubishi's biggest shareholder. nissan and mitsubishi are set to hold meetings to decide about the move. the two automakers jointly set up aom