Chinese firm called ‘Trump Will Probably Win’ sees stock prices soar even as Asia markets fall
Company’s name, Chuan Da Zhi Sheng, roughly pronounced as ‘Trump will probably win’
Shares of a Chinese company whose name sounds like “Trump will probably win” gained in trading on Wednesday morning as Asia markets fell.
Shenzhen-listed Wisesoft Co gained almost 5 per cent in morning trading in Shenzhen as the benchmark index dropped 1.31 per cent.
One Chinese translation for Donald Trump is “Chuan Pu” while the company’s name in Chinese is “Chuan Da Zhi Sheng”, which is roughly pronounced as “Trump Will Probably Win”.
The share price gain occurred as the Republican candidate took an early lead in initial results posed in the presidential poll.
Sichuan province-based Wisesoft focuses on software development and has no business ties with Trump or Clinton.
A Chinese stock whose names sounds like “Hillary”, meanwhile, did not fare so well in early trading. Yunnan Xiyi fell 10 per cent in Shenzhen.
Trump’s early lead in the election created jitters in Asian markets.
Hong Kong’s Hang Seng Index had fallen 3.5 per cent by noon on Thursday.
The price of gold, considered a safe investment in turbulent times, also surged.