Winter Is Coming for China Futures Traders as Volumes Tumble
- Jobs at risk as trading in stock-index futures dries up
- Government intervention drags trading volumes to record lows
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China’s futures industry is bracing for job cuts after a government campaign to prevent bearish wagers on the stock market sparked an unprecedented collapse in volumes.
“The nature of the market changed so quickly, throwing everyone from the top of the mountain to the bottom of the valley,” said Xu Liping, research institution director at HNA Topwin Futures Co. in Shanghai. “Winter is coming, and maybe we will see many people lose their jobs if the situation lasts for a long time.”