Bear hug deals blow to bull marathon
By Zhou Yan | China Daily | Updated: 2009-02-20 08:01

SHANGHAI: Just as Chinese investors were rejoicing over the slaying of the bear that ran amok in the domestic stock market for most of 2008 and early 2009, another one has been sighted in the past several days.
The recent bear run has wiped out a total of 1.19 trillion yuan in market capitalization. On Tuesday and Wednesday, when the key indicator fell by a total of 180 points, it ended a straight 26 trading day bull run since the beginning of February.
Even the most seasoned of investors, who had experienced the agony of the big market crash of 2008 that sent prices down by an average of 60 percent in less than six months, said they were dismayed by the severity of the latest correction.
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