(Bloomberg) -- Hong Hao, the former China strategist at Bocom International Holdings, was active again on Twitter with a forecast on the Nasdaq index, just days after his departure from the state-owned brokerage following a ban by Chinese social media.
Hong early Friday posted a chart he made on April 21 that likened the Nasdaq’s bubble in 2000 to its latest performance to imply that the gauge might have peaked, without elaborating. Hong has also changed his profile description on his profession to ex-Bocom International on Twitter, where he has nearly 28,000 followers.
Hong’s Chinese social media accounts, including those on China’s WeChat and Weibo, where he has more than 3 million followers, were suspended for unspecified violations since at least late Saturday following recent bearish reports on the country and its stocks. The analyst later left Bocom International after spending a decade at the firm.
While it’s unclear which of Hong’s posts may have crossed the line, China has in recent weeks censored social media posts related to its economically-disruptive lockdowns. The benchmark CSI 300 Index fell to a two-year low last week and has slumped 21% this year, making it one of the world’s worst-performing equity gauges. That hasn’t stopped state-run media from publishing a series of articles projecting confidence in markets.
U.S. stocks sank on Thursday, erasing their gains from the prior session amid a broad-based selloff in risk assets that sent tech shares tumbling by the most in more than 1 1/2 years. The tech-heavy Nasdaq 100 index plunged 5.1%, its biggest decline since September 2020.
Hong’s latest tweet was well received by his followers, with many welcoming his comeback.
One user commented: “It’s a complex world out there, so good to see you here again!”
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