He began to check the accounts of the Bank of Communications for battling the influence of Liang Shiyi (梁士诒). In next October, the sub-agent of Shanghai Fenghuirong Bank (上海源丰润) and others followed this tendency with 1 million debt. Therefore, Shanghai Government had to ask funds of 2 million Tael from Fengrun and Yishanyuan Bank.[4]. In June, the price of rubber dropped dramatically in the international market, which reached the price at nine shillings and three pence in the later July, then got a worse price at six shillings. Historically, this crisis, accomplished with the market crisis in 1920s, brought massive destruction of market development in Shanghai. Because Qing Government had to bring Hubei Army to repress this movement, the Chinese Revolutionary Alliance was able to prepare for the Wuchang Uprising, the beginning of Xinhai Revolution. [5] After this crisis, most rubber companies still kept their business, but the reputation had been ruined. TOCOM's rubber contract for July... Tokyo Commodity Exchange (TOCOM) futures inched higher on Wednesday as a rally in Shanghai futures helped improve investor sentiment. To a certain extent, these financing activities inflamed the rubber stocks.[3]. Shanghai Rubber Stock Market Crisis (Chinese: 橡皮股票风潮), was an economic crisis caused by the bankers and stock-holders overstimulating the rubber stocks in Shanghai in 1910. [2] This brought the decrease tendency in stock market. Venue: Shanghai New International Expo Centre (SNIEC), Shanghai, China The International Exhibition on Rubber Technology, short as RubberTech China, has been cultivated for … The Tokyo rubber market's RSS2009 contract opened at 150.9 yen in early trading, down 2.1 yen from the previous trading day. RubberTech China is an international trade fair for rubber manufacturing and rubber processing. China Focus: China launches natural rubber futures [2019-08-13] 2019-03-26(Multimedia) China Focus: Shanghai Futures Exchange launches cru... [2019-03-26] China Metallurgical News:Continue to Enhance the Capability to Serve the R... [2018-01-16] Futures Daily: SHFE Made Adjustments to Last Trading Day and Delivery Peri... [2018-01-08] After that, Sichuan Railway Protection Movement (保路运动) broke out in Sichuan 1911. Except for Suzhou, the other five cities' all financial organizations suffered a destructive attack and bankrupted completely. [1], Accomplished with the higher price of rubber in 1909, the related stock prices got a huge increase. In the earlier 1910, 30 Chinese native banks closed. After the holiday, rubber, like many varieties,... Tokyo Commodity Exchange (TOCOM) futures inched higher on Wednesday as a rally in Shanghai futures helped improve investor sentiment. This crisis led to a great number of bankruptcies of Chinese native banks in Tianjing, Guangzhou, etc. This demand stimulated prices of the commodity. [1][4], In the earlier 1910, Shanghai totally had 91 native banks. Here are some stock prices (per share) in this peak period: At that time, the P/B ratio of rubber prices in stock market got the peak as 10-20 times; also it was common to see the premium prices got increasing as eight to nine times. [1], Accomplished with the higher stock prices and stimulation of financial organizations, new rubber stocks were issued into market. Java Rubber Co. established account at Chartered Bank. Spot rubber continued its upward journey on Tuesday. Although the growth rate of cutting area is approaching an inflection point, based on the... Tokyo morning RSS2006 contract opened at 198.4 yen, down 1.6 yen from the previous trading day. [4], In July 1910, Chunhuatai Bank (春华泰银号) closed down firstly. This crisis led to a great number of bankruptcies of Chinese native banks in Tianjing, Guangzhou, etc. The Tokyo morning RSS2005 contract opened at 197.8 yen, down 0.2 yen from the previous trading day. SHANGHAI, Oct. 27 (Xinhua) -- Natural rubber futures opened higher Tuesday in daytime trading on the Shanghai Futures Exchange. In Britain, the export of rubber grew from 840 thousands pounds in 1908 to 1.41 million pounds in 1909. For feedback, write to singaporeeditors@dowjones.com. Since Fengrun and Yishanyuan were huge banks and their sub-agents were all over the China, their bankrupts led to a panic among people in Beijing, Guangzhou, Chongqing and other main cities. China Shanghai Rubber Futures Closing Prices, Volume, Sustainable rubber ingredient maker Bolder in talks to go public, UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH), Sustainable rubber ingredient maker Bolder in talks to go public -sources, China imposes anti-dumping measures on U.S., South Korea, EU rubber imports. Historically, this crisis, accomplished with the market crisis in 1920s, brought massive destruction of market development in Shanghai. Li Jingchu (李经楚), the major shareholder of Yishanyuan, also the nephew of Li Hongzhang, is the Vice Minister of Transportation and Manager of the Bank of Communications (BOC, in which Liang Shiyi is also a manager). In 1911, Sheng Xuanhuai was appointed as the Minister of Transportation. Risk aversion has dominated... Summary This situation bogged down until the late 1922. [1], In Zhejiang Province, 18 famous native banks closed in Nanjing, Zhenjiang, Yangzhou, Suzhou, Hangzhou and Ningbo. The loans suddenly decreased from 10 million Tael to 0.6 million in December. [4], High premium, stockholder and market speculation, Stock-market crashes and failure of government bailout, Post-Napoleonic Irish grain and cropland price shocks, 2011 Tōhoku earthquake and tsunami stock market crash, 2015–2016 Chinese stock market turbulence, List of stock market crashes and bear markets, https://en.wikipedia.org/w/index.php?title=Shanghai_rubber_stock_market_crisis&oldid=921095770, Creative Commons Attribution-ShareAlike License, This page was last edited on 13 October 2019, at 21:07.