Across The Border | Rio’s A-share winners and losers

The fighting spirit of China’s women’s volleyball team – gold medalists at the Rio Olympics, in the most dramatic style – looks to have been mirrored in the country’s stock market, as equity punters took their cue from the epic comeback victory to bet on stocks with any link to the country’s top sports stars.

On the day after China beat Serbia 3-1 in the final to clinch team gold, shares in Shanghai-based Bright Dairy & Food, the sponsor of the national side, jumped 4.4 per cent to 15.56 yuan as investors hoped the powerful win, would spur strong sales of Bright’s products across the mainland.

Industrial Securities predicted in a research report shortly after the victory, that it could help Bright increase its sales in the remaining year, as the image of the team in the company’s namesake brand’s advertisements and TV commercials is likely to inspire consumers to buy more of the Shanghai-listed company’s milk.

The team, coached by Lang Ping, a legendary volleyball player who helped China win the first of five world titles between 1981 and 1986, has been propelled to star status in the world’s most populated country since their dramatic win.

On the same day, Zhejiang Shapuaisi Pharmaceutical, which hired coach Lang as an ambassador for its products, surged 2.5 per cent. And shares in Wuxi Double Elephant Micro Fibre Material, that supplies leather for making the balls themselves, jumped to the 10 per cent daily trading limit, as investors bet on a buying euphoria on volleyballs.

But in stark contrast, Bright’s arch-rival Inner Mongolia Yili Industrial Group saw its A-shares drop 1.1 per cent on August 10 when Ning Zetao, a world champion swimmer, failed to qualify for the final of the men’s 100-meters freestyle. The iconic Chinese athlete is a spokesman for Yili products.