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Outspoken market analyst’s Chinese social media accounts suspended -Breaking

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© Reuters.

SHANGHAI, (Reuters) – The Chinese social media accounts for a prominent Hong Kong market strategist have been suspended following a string of negative commentaries. Also, a plunge in mainland equities at two-year lows due to COVID-19 lockdowns as well as global political tensions led to a number of downbeat comments.

The WeChat account Hong Hao who heads research at Bocom International Holdings has had all its content blocked since Saturday evening. WeChat also suspended his account for unspecified violations to its rules.

Hong has lost his account at China’s Twitter-like microblog Weibo. (NASDAQ:).

WeChat Representatives and Weibo representatives did not reply to our Sunday email inquiries.

Many negative remarks made by Chinese market analysts or commentators are censored. They have been under greater scrutiny in recent years, when China’s economic and financial markets face stiff headwinds.

Hong didn’t respond to a Reuters message asking for comments on suspensions. A Bocom International representative also did not immediately respond to an emailed inquiry.

China’s stock markets are among the worst performing this year. The blue-chip CSI300 Index fell to its lowest level in two years and dropped below 3,000 last week.

Hong foresaw in March that Shanghai Composite Index would trade below 3000 points under the worst case scenario.

After Beijing began testing people for COVID-19 again, the index fell below this level. However, it rebounded on Friday to 3,047 points after China promised to stabilize the economy and financial market.

Hong also said that the rout among U.S.-listed Chinese businesses was due to China’s crackdown against technology companies, rather than U.S. auditor rules. This warned of capital flight from plummeting Chinese stock market confidence.

On Twitter, he said “Shanghai: Zero movement, zero GDP” just before the city entered a coronavirus lockdown.

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