KUALA LUMPUR, July 15 — Shares of Chinese software company Wisesoft Co jumped past the maximum 10 per cent daily limit on the Shenzhen Stock Exchange after the failed assassination attempt on former US president Donald Trump.
The reason?
The company’s name in Mandarin, romanised as “Chuan Da Zhi Sheng” sounds like “Trump wins big”, and sparked renewed bets on the November 5 US election where he is seeking a comeback against incumbent president Joe Biden, business news wire Bloomberg reported today.
This is not the first time Asiasoft’s shares surged; according to Bloomberg, it went up when Trump won the 2016 US election and again last month when the 81-year-old Biden stumbled during a live debate with the 78-year-old Republican.
“It's a common trend in A-shares.
“Investors playfully link stock names to major events, despite the lack of genuine correlation,” Shen Meng, director at Beijing-based investment bank Chanson & Co, was quoted as saying.
