Fear and Chaos: The Voices from China's Retail Investors on October 15th
Today, I want to share what I witnessed across social media, YouTube, and WeChat. It’s not just numbers and charts—it’s the raw emotions of China’s retail investors, navigating the storm of a plunging market. This article reflects their struggles, confusion, and despair as they find themselves trapped in a relentless downtrend. My goal is not to offer investment advice but to provide a glimpse into the turmoil they are experiencing.
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A Market Dominated by Fear
Unlike the U.S., where institutional investors dominate, China’s stock market is made up of 80% retail investors. This creates a unique, volatile dynamic where sentiment shifts faster than the market can absorb. In recent days, fear has gripped these retail investors. As the market slides further, panic spreads like wildfire. Everyone—retail and institutional investors alike—has begun selling, accelerating the downturn. The resulting fire-sale is overwhelming, and with each new drop, hope dims a little more.
Unlike the U.S., where institutional investors dominate, China’s stock market is made up of 80% retail investors. This creates a unique, volatile dynamic where sentiment shifts faster than the market can absorb. In recent days, fear has gripped these retail investors. As the market slides further, panic spreads like wildfire. Everyone—retail and institutional investors alike—has begun selling, accelerating the downturn. The resulting fire-sale is overwhelming, and with each new drop, hope dims a little more.
The devastation is visible everywhere. “I thought I could hold through this,” one investor lamented in a WeChat group. “But it just keeps falling. I’ve sold everything—at a loss—just to stop the bleeding.” Another commented, “I held onto my stocks all through the night, thinking maybe tomorrow would be different. But when morning came, it only got worse. My hands were shaking as I pressed the sell button.”
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Desperation in Every Corner
I saw heartbreaking stories from investors who borrowed heavily, hoping for a quick win. "I used my family’s money and even took loans to invest. Now, I’ve lost more than I can repay," confessed a 24-year-old who bought in just before the October 9 crash. Stories like this are everywhere—people laying out how much they’ve lost, sharing snapshots of dwindling portfolios, and seeking solace from strangers on WeChat forums. Some investors joked about needing therapy, while others spoke of not being able to sleep, their thoughts haunted by the red numbers on their screens.
I saw heartbreaking stories from investors who borrowed heavily, hoping for a quick win. "I used my family’s money and even took loans to invest. Now, I’ve lost more than I can repay," confessed a 24-year-old who bought in just before the October 9 crash. Stories like this are everywhere—people laying out how much they’ve lost, sharing snapshots of dwindling portfolios, and seeking solace from strangers on WeChat forums. Some investors joked about needing therapy, while others spoke of not being able to sleep, their thoughts haunted by the red numbers on their screens.
On YouTube, another investor vented, "I’ve lost months of salary in just a few days. How do you even explain this to your family? I just sit in front of the computer, watching the market fall, feeling helpless."
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The Influence of Emotions on the Market
The atmosphere in China’s stock market is very different from the more stable U.S. markets. With such a heavy reliance on retail investors, fear can snowball into mass sell-offs, triggering more losses and spreading panic. "I was scared I’d miss the chance to sell before it dropped further," one investor admitted. "But as soon as I sold, the market bounced a little—just enough to make me regret it."
The atmosphere in China’s stock market is very different from the more stable U.S. markets. With such a heavy reliance on retail investors, fear can snowball into mass sell-offs, triggering more losses and spreading panic. "I was scared I’d miss the chance to sell before it dropped further," one investor admitted. "But as soon as I sold, the market bounced a little—just enough to make me regret it."
This collective panic is now affecting Chinese companies listed abroad. Both Chinese and Hong Kong stocks have nosedived as fear grips investors. "Everyone is selling. It doesn’t matter if it’s retail or institutional investors. They just want to get out before things get worse," an investor commented on WeChat.
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A Glimpse into the Emotional Collapse
Today, I came across a post that perfectly captured the exhaustion many are feeling: "The market took my savings and my sleep. It even took away the joy I used to feel watching the charts." Another investor shared, "It’s like a bad dream you can’t wake up from. I try to convince myself that the market will recover, but each new drop pulls me deeper into despair."
Today, I came across a post that perfectly captured the exhaustion many are feeling: "The market took my savings and my sleep. It even took away the joy I used to feel watching the charts." Another investor shared, "It’s like a bad dream you can’t wake up from. I try to convince myself that the market will recover, but each new drop pulls me deeper into despair."
The hopelessness is palpable. Some investors, in a mix of frustration and humor, joked that “in this market, you can lose more than just money—you can lose your sanity.” Others have stopped checking their portfolios altogether, fearing what they might see. One particularly poignant message read: "I deleted my trading app. I don’t want to know how much more I’ve lost."
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A Market in Freefall
The panic we see today highlights the fragile nature of a retail-dominated market. Without the stability that comes from institutional investors, China’s stock market feels like a storm that can’t be weathered. Every attempt at recovery is quickly met with another wave of selling. Investors are desperate to cut losses, hoping to salvage what little they can.
The panic we see today highlights the fragile nature of a retail-dominated market. Without the stability that comes from institutional investors, China’s stock market feels like a storm that can’t be weathered. Every attempt at recovery is quickly met with another wave of selling. Investors are desperate to cut losses, hoping to salvage what little they can.
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If You’ve Made It This Far
These are the voices of China’s retail investors—fearful, angry, and desperate. This isn’t just a story about stocks; it’s a story about people. It’s about hopes shattered in the blink of an eye, and dreams put on hold indefinitely. As the markets continue to tumble, these investors are left to navigate a landscape of uncertainty, wondering if they will ever find stability again.
These are the voices of China’s retail investors—fearful, angry, and desperate. This isn’t just a story about stocks; it’s a story about people. It’s about hopes shattered in the blink of an eye, and dreams put on hold indefinitely. As the markets continue to tumble, these investors are left to navigate a landscape of uncertainty, wondering if they will ever find stability again.
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Long-term value investor, focused on identifying undervalued stocks through thorough market analysis and fundamentals.
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103501857 : Unfortunately I was one of the victim of the A-share bull market believer.
This cry-wolf policies/hesitation of pushing the market that China goverment had destroy their credibility completely. Many new trading accounts was open during the long holiday and these new traders instantly get negatively return on their account on Tuesday.
Sor Shi Dll : This will be their big lesson learned.. everyone was in the same situation once, I guess.
Jovi9488 : Financial literacy is hard? I mean, do these people not know what they're doing?
Daring Lu : Don't follow the news too closely.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Anything that involves money will have conspiracy.
Alex Wong Cian Yih OP 103501857 : I can completely relate to what you're going through. Honestly, I feel a bit of sympathy for your situation because I’ve been there myself. On the 7th of October, I bought some YINN call options too, and even on the 8th, I experienced a sharp drop. My profits, which I had been using to flip and reinvest into the call options, took a massive hit. Between the 8th and 9th, I saw 75% of my profits wiped out. Eventually, I had to cut my losses and move on. I had to change my strategy after that. Unfortunately, a lot of us have been through the same thing during this time.
Alex Wong Cian Yih OP Jovi9488 : A lot of people jumping into the market recently had no experience. They saw the government talking about stimulus and thought the bull market was back, so they threw their life savings in, hoping to make a quick profit. Some even maxed out credit cards, took out loans, and just dumped everything into the stock market. Then, boom—8th and 9th of October hit, and they lost it all. Honestly, it’s tough to watch.
Alex Wong Cian Yih OP Daring Lu : I wouldn’t dismiss the news so quickly. In China, 80% of the market is retail investors, and their emotions drive the whole thing. So, those discussions on WeChat or news from self-media actually matter. When people lose confidence, it can tank the market even more. Even if policies eventually work, those same people will sell as soon as they can break even because they don’t trust the market anymore. So yeah, keeping an eye on that sentiment is important.
103501857 Alex Wong Cian Yih OP : Cut mine too at 16% loss, I'm grateful that I didn't take leverage position. Ever since, I've changed my view on China's market/administration. Ya, let's move on
每天都在學習中 : It's true... People who fail in investments... often are those who want to get rich overnight...![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
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![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")