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Insight: Irrational exuberance? Not when stocks soar

By Wang Zhenghua and Ida Relsted | China Daily | Updated: 2007-05-14 07:00

<FONT COLOR=#0080FF>Insight:</FONT> Irrational exuberance? Not when stocks soar

Investors buy and sell shares using self-service machines installed at a stock brokerage on May 9 in Jinan, capital city of East China's Shandong Province. Quan Chen

On a warm morning, loud cheers erupted sporadically from the crowd of elderly men and women who had their eyes glued on an array of half a dozen television screens. Last Friday, they were sitting in a stuffy room on the second floor of a nondescript office building in Shanghai.

Clutching a mobile phone in one hand and an electronic calculator in the other, a sweating man donning a short-sleeved shirt and baggy pants, mutters to himself: "Go, baby, go."

They are watching the live broadcast of real time changes in share prices on the Shanghai Stock Exchange, courtesy of Industry Securities, a large stock broking firm.

<FONT COLOR=#0080FF>Insight:</FONT> Irrational exuberance? Not when stocks soar

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