Chinese Analyst Who Projected Bearish Reports On Alibaba And Other Chinese Stocks Returns To Twitter

  • The former China strategist at Bocom International Holdings was active again on Twitter, Inc TWTR with a forecast on the Nasdaq index, just days after he exited the state-owned brokerage following a ban by Chinese social media, Bloomberg reports.
  • Hong Hao posted a chart on Twitter that compared the Nasdaq's bubble in 2000 to its latest performance to imply that the gauge might have peaked.
  • Hong also changed his profile description on his profession to ex-Bocom on Twitter, where he has nearly 28,000 followers.
  • Also Read: JPMorgan Downgrades Alibaba and Other China Tech Stocks Following Selloff; Calls It "Uninvestable" For Next 6-12 Months
  • Tencent Holding Ltd's TCEHY WeChat and Weibo Corporation WB suspended Hong's accounts recently.
  • The suspension followed Hong's recent bearish reports on the country and U.S. listed Chinese stocks like Alibaba Group Holding Limited BABANIO Inc NIO, and Tencent Holding Ltd TCEHY.
  • Hong later left Bocom after spending a decade at the firm.
  • China has censored social media posts related to its lockdowns. 
  • The benchmark CSI 300 Index fell to a two-year low last week and has slumped 21% in 2021, making it one of the world's worst-performing equity gauges. 
  • However, the state-run media continues to publish articles projecting confidence in markets.
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