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When I used to be a sales assistant, I remember one day telling a client that her stock was up just one day after she bought it. She asked me, "how often do they change the price?"

At first, I wasn't sure what to say. I mean, in capitalism "they" change the price nearly every second. Maybe she thought that some guys simply adjusted the price a few times a day. It's amazing how many people don't get the markets on any level.

The AP reports that many Chinese investors have little idea what their stock market is about:

Respondents to the survey were mainly office workers, 60 percent of whom had monthly salaries of 3,000 yuan ($390) or less, the firm said.

Despite their interest in the market, few respondents said that had negatively affected their jobs, with 45 percent saying they felt “reinvigorated” at work through investing in the market.

Among other conclusions, nearly 75 percent of respondents said they were using their bank savings to finance stock buys, underscoring concerns about the possible ripple effects of any market downturn.

Yet just 32 percent said they were reinvesting their market earnings, while 68 percent said they used profits to pay bills or buy cars and apartments.

Posted by edelfenbein at May 23, 2007 10:23 AM