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| Students Hit the Virtual Jackpot in Stock Game |
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About 60 percent of students competing in Shanghai's first mock university stock investment contest have reported a profit three weeks after the competition was launched. The month-long contest, which started on April 10, allows students from 17 local universities to trade shares with mock accounts on a real-time software platform connected to the Shanghai Stock Exchange. Each participant was given start-up capital of 200,000 yuan (US$25,773). By April 30, the last trading day before the Labor Day holiday, 1,633 of the 2,722 registered participants had made a profit, according to the latest ranking report. The highest market value was achieved by a sophomore at the Shanghai University of Finance and Economics, whose portfolio appreciated by 82 percent to 363,935 yuan. Only 13 percent of players -- 349 students -- saw their account capital shrink. Another 740 participants opened trading accounts but have not taken part in trading. Lin Yuchang, director of SUFE's student stock club and contest organizer, said the competition was designed to give young students experience of stock investment. "I'm quite astonished to see players make such great achievements within such a short trading period," said Lin, a second-year student. "It was the skyrocketing market, I think, that presented the opportunities for most fledging investors," he said. By April 30, the Shanghai Composite Index had climbed 13 percent since April 9, the day before the contest started. Post-holiday trading will resume from today and run through this Thursday. The most profitable contestant will be awarded 10,000 yuan in cash. Intern positions at fund companies will also be available for the top 20 traders. (Shanghai Daily May 8, 2007) |
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