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| US election 2016: Chinese company whose name sounds like 'Trump wins big' sees stock surge nearly 10% | US election 2016: Chinese company whose name sounds like 'Trump wins big' sees stock surge nearly 10% |
| (35 minutes later) | |
| The stocks of a little-known Chinese company whose name sounds like "Trumps wins big" have risen as Donald Trump started widening his lead over Democrat Hillary Clinton on Wednesday morning. | |
| China’s stock market had a rollercoaster ride overnight as the tightening race for the White House unfolded. | China’s stock market had a rollercoaster ride overnight as the tightening race for the White House unfolded. |
| However, shares in Shenzhen-listed Wisesoft saw a surge of nearly 10 per cent at one point, even as the wider market fell. | However, shares in Shenzhen-listed Wisesoft saw a surge of nearly 10 per cent at one point, even as the wider market fell. |
| The apparent reason for the company’s good fortune is its name - "chuan da zhi sheng" is a homophone for "Trump wins big". | The apparent reason for the company’s good fortune is its name - "chuan da zhi sheng" is a homophone for "Trump wins big". |
| Sichuan province-based Wisesoft focuses on software development and has no apparent business ties with Donald Trump or Hillary Clinton. | Sichuan province-based Wisesoft focuses on software development and has no apparent business ties with Donald Trump or Hillary Clinton. |
| "This is a unique A-share phenomenon, when investors make speculation based on any reason except for the fundamentals," Deng Wenyuan, an analyst at Soochow Securities told the Wall Street Journal. | "This is a unique A-share phenomenon, when investors make speculation based on any reason except for the fundamentals," Deng Wenyuan, an analyst at Soochow Securities told the Wall Street Journal. |
| Meanwhile, the Yunnan Xiyi Industrial company, whose name sounds like the Mandarin word for "Hillary shares" was not so lucky. | Meanwhile, the Yunnan Xiyi Industrial company, whose name sounds like the Mandarin word for "Hillary shares" was not so lucky. |
| Its shares plunged 9.5 per cent on the Shenzen stock exchange as the Republican's odds at winning improved. | Its shares plunged 9.5 per cent on the Shenzen stock exchange as the Republican's odds at winning improved. |
| Asian markets sank overnight with Japan's Nikkei closing down more than 5 per cent lower and Hong Kong's Hang Seng off by 2 per cent. Meanwhile, the benchmark Shanghai Composite Index closed nearly 1 per cent lower. | Asian markets sank overnight with Japan's Nikkei closing down more than 5 per cent lower and Hong Kong's Hang Seng off by 2 per cent. Meanwhile, the benchmark Shanghai Composite Index closed nearly 1 per cent lower. |
| Donald Trump has shattered expectations on Wednesday achieving one of the most improbable political victories in modern US history with analysts saying it was “Brexit all over again”. | Donald Trump has shattered expectations on Wednesday achieving one of the most improbable political victories in modern US history with analysts saying it was “Brexit all over again”. |
| Joshua Raymond, analysts at XTB.com, said: “The outcome of this contest has seemingly caught the markets off guard in a repeat of the Brexit vote with forecasters and reputable pollsters wide of the mark once more in their predictions.” | Joshua Raymond, analysts at XTB.com, said: “The outcome of this contest has seemingly caught the markets off guard in a repeat of the Brexit vote with forecasters and reputable pollsters wide of the mark once more in their predictions.” |
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