China’s retail investors have a case of deep pockets and heavy hands as they are skipping out on the sharp rally in stocks since COVID protocols were lifted, despite being flush with savings accumulated during the pandemic years.
“But I don’t dare to enter the market just yet. The day-to-day volatility is worrying me as I don’t have too much spare money to invest. Losses last year were so ugly.” The A-share market recorded 844,800 new investors in January, about 36% less than the increase a year earlier, according to the China Securities Depository and Clearing.
Retail investors are waiting for clearer policy signals, said Lei Meng, China equities strategist at UBS Securities. Others will keep to their buying steady, like Sun, in her 30s, who said she will stick with her current automatic investment plan and not alter her investments in 2023. Highlighting the risk aversion, Chinese household deposits rose by a record 17.8 trillion yuan in 2022, far outpacing the 9.9 trillion yuan growth in 2021.
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