I think I should wear a shirt with the number eight on it when I go to China in a month. To the Chinese the number eight is symbolic of fortune and wealth, and has a large influence on all parts of their life. For example, they will often invest in stocks with ticker codes with an eight or multiple eights. The Beijing Olympics will start at 8pm on 8-8-2008.
Contrary to the number eight’s goodwill is the number four, which is symbilic of death.
More in this WSJ article:
The 6, 8 and 9 keys on ATMs made by Diebold Inc. wear out first because those “are considered lucky numbers in China”…
Investing is likened to what we (Americans) would consider gabling…
Brokerages are set up like casinos. Investors drink tea, smoke and chat as they make trades on computers lined up like slot machines. Instead of dropping in coins, they swipe bank cards to pay for shares…
In China, individuals, often with little understanding of financial concepts, make up 60% to 80% of trading, unlike U.S. markets dominated by financial giant (firms).
There is no free press in China, which means that information can be misleading, their stock market is largely comprised of personal investors that view it as a high risk endeavor based on lucky numbers, and their GDP growth is ridiculously high. Is it a matter of if or when their economy implodes?