Black Hole Excitement Sparks Speculation in China's Stock Market
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Investors are never short of trading ideas in China’s $7.6 trillion stock market. On Thursday, they found inspiration in a very far off place, in the form of a super-massive black hole.
Companies linked to space telescopes and optical lenses bucked broader market declines after scientists released the first-ever image of a black hole. Phenix Optical Co. surged 9.9 percent in Shanghai to the highest since June. Zhejiang Southeast Space Frame Co. jumped as much as 10 percent before closing up 3.3 percent, while Shanghai Moons’ Electric Co. climbed more than 4 percent before erasing gains. The Shanghai Composite Index slid 1.6 percent, its biggest loss since March 25.