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Chinese Investors Playing Markets Lose Thousands as Stocks Plunge

BEIJING — While the decline of China's stock markets slowed slightly, investors who lost thousands of dollars were left licking their wounds Wednesday.

"I'm upset," said 26-year-old Wei Vivi, who lost the equivalent of $10,000 over two days. "I don’t want to think about it. I’m avoiding reading any news about the stock market now."

Wei, a local government employee in the southeastern city of Nanchang, said she invested 200,000 yuan (around $31,000) in the Chinese stock market six months ago when it looked like it was doing well. Stocks were rising and she saw an easy opportunity to profit.

"The Chinese central bank is behaving childishly."

While she didn’t have much financial knowledge or experience of the markets, she believed that it would be worth investing most of her savings.

Following two days of dramatic falls, Shanghai’s Composite Index ended down 1.3 percent Wednesday. Now Wei is skeptical of government measures to try to calm the markets.

"The Chinese central bank is behaving childishly," she said, believing that its attempt to cut interest rates would not change the volatility of the markets.

Related: Five Reasons Why China's Woes Are Shaking the World's Markets

Other investors are calling for the Chinese government to take more affirmative action in preventing the massive market falls.

The Stock Market's Worst Ever Days 1:02

Liu Max, a 30-year-old lawyer from Beijing, said he lost 40 to 50 percent of his savings in the stock market since Monday. He would not reveal how much his investment was worth.

"I wish the government could stimulate the capital market efficiently," he said. "I wish the government could be more efficient."

Related: What China Rate Cut Means

He added that "no-one is satisfied with the government after these last two days."

However, despite his losses, he remained calm.

"The bad global economy and the bad economy in China have resulted in the stock market performance," he said. "It’s very normal."

"It feels like the end of the world"

"I think the stock market will stay like today, it won’t drop sharply like the past two days and neither rise as sharply as before."

Some investors were less optimistic.

"It feels like the end of the world," 25-year-old social media specialist Pan Chong told The Associated Press. He said he invested 50,000 yuan (around $7,900) in April, but gains of 40 percent were quickly wiped out.

"The so-called correction will finally become a long-term bear market," he told the AP. "So I'm considering selling all my shares as soon as possible."

Another investor, a 76-year-old who only gave his surname as Gao, told Reuters he thought "the government has messed up the market. It's wrong for the government not to rescue it." He added: "How can investors stand slumps like this?"

Despite her losses, Wei, the Nanchang government employee, said she was still keeping her money in the stock market for now.

"If China is going to be bankrupted, even if I get my money out from the stock market, it will be worthless," she said. "If not, the stock market will be better one day."