China’s state media warns against the risks of Metaverse shares

Investors stand in front of an electronic board showing information about stocks on the first trading day after a week-long lunar New Year holiday at a brokerage house in Shanghai, China, on February 15, 2016 C REUTERS / Aly Song

SHANGHAI, Sept. 9 (Reuters) – Investing is not a virtual game and investors who blindly buy Chinese stocks hoping to benefit from the so-called Metaverse will likely end up in tears, Chinese official Securities Times warned on Thursday.

The comment comes amid a recent rise in stocks such as the Shenzhen Zhongqingbao Interaction Network (300052.SZ) and Perfect World (002624.SZ) which are perceived as the development of Metaverse, a virtual shared space based on virtual reality (VR) technologies.

It also came after China’s top securities regulator, Yi Huiman, said at a conference on Monday that exchanges should better understand investor behavior in the Internet age.

The Metaverse is still in its infancy and related technologies are far from mature, the Securities Times said.

Reports by Samuel Shen and Andrew Galbraith; Edited by Stephen Coates

Our standards: the principles of trust of Thomson Reuters.

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