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60% of Chinese investors suffer 70% loss on stock market

By Hu Yuanyuan (chinadaily.com.cn)
Updated: 2008-12-29 12:56

Around 60 percent of Chinese individual investors suffered a loss of more than 70 percent from the country's bearish stock market this year, an online survey showed today.

The survey, jointly sponsored by Shanghai Securities News and www.stockstar.com, covers 25,110 individual investors. 22 percent of interviewees reported losses ranging from 30 to 50 percent, and only 7 percent of interviewees' loss was below 30 percent. A lucky 6 percent have still recorded a profit so far.

China's stock market has plummeted nearly 70 percent so far this year, with over two trillion yuan ($291.88 billion) evaporating.

The survey also showed that 70 percent of interviewees pour 50 percent of their total assets into the stock market, while only 10 percent invest less than 30 percent of their assets.