EXPLAINER-How China’s retail investor army got burned by the shock oil collapse
China’s retail
investors take punts on everything from mainstream stocks to
niche commodities and derivatives, and many were badly burned
this week by exposure to U.S. oil contracts which collapsed
below zero for the first time, wiping out several small
accounts.
Bank of China (BoC) , one of the providers
of retail-grade investment products tracking U.S. oil futures
prices, was forced to settle its crude oil “bao” product at
minus $37.63 a barrel following
investors take punts on everything from mainstream stocks to
niche commodities and derivatives, and many were badly burned
this week by exposure to U.S. oil contracts which collapsed
below zero for the first time, wiping out several small
accounts.
Bank of China (BoC) , one of the providers
of retail-grade investment products tracking U.S. oil futures
prices, was forced to settle its crude oil “bao” product at
minus $37.63 a barrel following
Posted by Reuters
