- Title: Chinese stock 'Trump wins wisely' outperforms as markets slump
- Date: 9th November 2016
- Summary: SHANGHAI, CHINA (NOVEMBER 9, 2016) (REUTERS) PEARL TOWER ELECTRONIC TICKER BOARD SHOWING SHANGHAI COMPOSITE INDEX AND SHENZHEN COMPONENT INDEX ELECTRONIC TICKER BOARD ELECTRONIC BOARD SHOWING STOCK INFORMATION INVESTORS SITTING INSIDE A STOCK EXCHANGE INVESTORS SEATED STOCK INFORMATION ON SCREEN INVESTOR SURNAMED SHI TYPING IN FRONT OF COMPUTER COMPUTER SCREEN SHOWING STOCK INFORMATION OF WISESOFT CO INVESTOR SURNAMED SHI SITING VARIOUS OF COMPUTER SCREEN SHOWING STOCK INFORMATION OF WISESOFT CO (SOUNDBITE) (Mandarin) 86-YEAR-OLD INVESTOR, SURNAMED SHI, SAYING: "It looks like stock price of Wisesoft CO is rising as Donald Trump was elected as U.S. president. But other stocks are dropping." SCREEN SHOWING STOCK INFORMATION INVESTOR, SURNAMED LUO, LOOKING AT COMPUTER SCREEN SCREEN SHOWING STOCKS INFORMATION (SOUNDBITE) (Mandarin) 67-YEAR-OLD INVESTOR, SURNAMED LUO, SAYING: "It has nothing to do with our market no matter who is elected as the U.S. president. If China's economy grows, then the market will have a good performance. It's like a bear market now. So we need to be patient. If a bull market comes, then stocks will rise. Now we lost money from the stocks we invested, and it's very difficult for the markets to rebound." ELECTRONIC TICKER BOARD SHOWING SHANGHAI COMPOSITE INDEX AND SHENZHEN COMPONENT INDEX
- Embargoed: 24th November 2016 10:18
- Keywords: China Trump. Trump wins wisely Donald win election US
- Location: SHANGHAI, CHINA
- City: SHANGHAI, CHINA
- Country: China
- Topics: Government/Politics,Elections/Voting
- Reuters ID: LVA00157Q4N5Z
- Aspect Ratio: 16:9
- Story Text: The stocks of a Wisesoft, a Chinese-listed company, whose Chinese name directly translates to "Trump wins wisely" made gains on Wednesday (November 9) despite markets across Asia making losses after a shock win by Donald Trump in the U.S. election.
Trump stunned the world by defeating heavily favored Hillary Clinton in the presidential election, ending eight years of Democratic rule and sending the United States on a new, uncertain path.
Throughout his presidential campaign, Trump has vowed to revive the U.S. economy by slashing taxes, preventing companies from making products overseas, renegotiating trade accords and imposing tariffs on imports from countries like China.
The Shenzhen-listed company Wisesoft Co reversed earlier losses and closed up by 6.35 percent, standing at 32.01 yuan, while China stocks ended lower.
It also reflects an investment culture in China, where a stock's rise and fall often has little to do with fundamentals.
The blue-chip CSI300 index fell 0.5 percent, to 3,353.5, while the Shanghai Composite Index lost 0.6 pct to 3,128.37 points at the closing of the day.
Global markets had bet on a Hillary Clinton victory, but every new exit poll in the U.S. election showed the race to be a nail-biter, sending investors stampeding to safe-haven assets as they braced for the possibility of the kind of "Brexit shock" that has so far been under-priced. - Copyright Holder: REUTERS
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