China State Media Takes Aim at ‘Whimsical’ Stock Index Targets
- Regulators disapprove of predicting market levels: Sec. Times
- Broker deletes note on Shanghai Composite to test 4,000 points
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Bullish calls on Chinese stocks appear to have gotten on the nerves of the country’s regulators, with state media reporting that authorities are against analysts forecasting specific levels for the market.
“Some predictions in the market are rather whimsical and some people use exaggerated and empty terms in pursuit of influence,” according to a commentary posted Tuesday on the official WeChat account of the Securities Times, an affiliate of the People’s Daily. “Regulators disapprove of the practice of setting specific targets and maintain that research opinions should be objective, professional, prudent and avoid being arbitrary,” it said, citing unidentified people close to the authorities.