Guang Ling, left, watches the markets on his computer at a local brokerage house in Shanghai—where shares had plummeted 50 percent over four months after a controversial tax was placed on trading.
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A local trader uses the phone in a private trading room at a brokerage in Shanghai.
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Mrs. Yu, a 67-year-old retiree, knits a sweater while watching the market in a private trading room at a brokerage in Shanghai. Last November, when the market went soft, Mrs. Yu was able to sell most of her stock and didn't lose out like most other investors. She enjoys visiting the brokerage house each day and treats it like work; staying at home is too boring.
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A man sleeps in his chair in a private trading room at a brokerage house.
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Inside a private trading room at a brokerage house in Shanghai.
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Elderly people sit in the common room and watch the stock board.
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A woman makes trades at a computer terminal at a brokerage house in Shanghai.
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A man shares in the gossip while watching the stock board.
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Pei Yuanji watches stocks on a computer terminal at a brokerage house in Shanghai. Mr. Yuanji is an 85-year-old retired pharmacist who says it is very difficult to make any money. He's been trading for about five years and is waiting for the market to drop another 10 percent before he'll start to buy again.
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Hikaru is a 25-year-old marketing manager who has been day-trading from his apartment in Shanghai. He got into trading about a year ago when the market reached its peak. He said that everyone else was doing it, so he opened an account and began trading too.
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