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Temple, lottery stocks surge in China as desperate young people pray or gamble amid weak post-Covid recovery

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Chinese temple visits have more than quadrupled so far in 2023, as the youth unemployment rate hits a record 20.4 per cent. Read more at straitstimes.com.

SHANGHAI – Shares in some Chinese temple operators and lottery sellers surged for a second day on Thursday amid a weak post-Covid recovery, as despondent young people rush to pray or gamble amid greater economic uncertainty.

The two mountains are among China’s most famous sacred Buddhist mountains, attracting millions of tourists yearly to their temples and Buddhism culture relics. “The surging stocks reflect a major macro-economy change this year - rising youth employment pressure,” said Mr Shi Pengfei, a consumer analyst at Beijing-based Spring Capital.

 

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Surging temple and lottery stocks mirror China's weak recoverySHANGHAI/SINGAPORE : Shares in some Chinese temple operators and lottery sellers surged for a second day on Thursday amid a weak post-COVID recovery, as despondent young people rush to pray or gamble amid greater economic uncertainty.Data showed Chinese temple visits more than quadrupled this year compare
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »