China state media cautions against Metaverse stock risks

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SHANGHAI — Investment is not a virtual game and investors blindly buying Chinese stocks hoping to profit from the so-called Metaverse will likely end up in tears, China’s official Securities Times warned in a commentary on Thursday.

The commentary comes amid a recent surge in stocks such as Shenzhen Zhongqingbao Interaction Network and Perfect World that are perceived as developing the Metaverse – a virtual shared space based on virtual reality (VR) technologies.

It also came after China’s top securities regulator, Yi Huiman, told a conference on Monday that exchanges should have a better understanding of investor behaviors in the Internet age.

The Metaverse is still in its infant stage and related technologies are far from mature, the Securities Times said.

(Reporting by Samuel Shen and Andrew Galbraith; Editing by Stephen Coates)