Stocks with the word “emperor” in their names are surging in China
10%
China’s Communist Party proposed to remove a constitutional limit on presidential terms on Sunday (Feb. 25), clearing the way for president Xi Jinping to stay in power indefinitely.
Published | Photo by Reuters/Aly Song
The change to the constitution, which was criticized by experts, activists, and citizens in China, is having a curious effect on the stock market.
While the CSI 300 Index, that reflects the Shanghai and Shenzhen exchanges, was up less than 1% on Monday (Feb. 26), stocks that had the word “emperor” on their names surged almost 10%.
Shenzhen Emperor Technology was up 10%, Harbin VITI Electronics (“powerful emperor”) was up 7%, and Anhui Yingjia Distillery (“greeting the carriage of the emperor”) was up 4%.
