Tech stocks capture China’s elderly retail investors amid faith in nation’s tech sector

State support in the sector and frustration over slow gains in blue chip stocks has elderly Chinese changing returns in technology “Foam is the best bit of a beer,” Fang Yan’an, a veteran investor in his late 70s, told the SCMP, referring to his tactic of chasing the rally of some technology companies. “Our government has ramped up support for technological development over the past few years, and so have many other nations,” Fang said. “Since technology is now crucial for global competition, I tend to believe in the AI industry, and I’m prepared to hold the shares through a long-haul journey.” Higher earnings could support the high price of technology stocks as more commercial products are developed from research, he added.

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