Stock Groups

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

[ad_1]

2/2
© Reuters. FILEPHOTO: On October 6th 2016, a bus carrying an advertisement about CFA Institute with Hao Hong as head of Bocom International’s research, passes by Hong Kong. REUTERS/Bobby Yang/File Photograph

2/2

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 stated that his account was also blocked due to unspecified violations.

Since Saturday, Hong’s Weibo account (NASDAQ:) on China’s Twitter-like microblog Weibo has disappeared as well.

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

Market analysts and commentators from China have been criticized for making negative remarks about China. These comments are frequently censored. China’s economy is facing stiff headwinds, and it is expected that Xi Jinping will be re-elected to a third term.

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 exchange is one of the most volatile this year. Blue-chip CSI300 Index dropped to two-year lows, and fell below 3,000 marks last week.

Hong predicted that in March, the Shanghai Composite Index could trade below 3,000 in worst-case scenarios.

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.

He wrote “Shanghai” on Twitter (NYSE 🙂 March 31, just as Shanghai’s financial and commercial center entered a coronavirus lockdown.

[ad_2]