China's new Nasdaq-style STAR Market plunges on second day of trading

FILE PHOTO: A sign for STAR Market, China's new Nasdaq-style tech board, is seen after the listing ceremony of the first batch of companies at Shanghai Stock Exchange in Shanghai, China July 22, 2019. REUTERS/Stringer/File Photo

SHANGHAI - China’s STAR Market kicked off its second day of trading on Tuesday with sharp falls in most listed shares a day after they posted average gains of 140%, underscoring the volatility of the country’s new Nasdaq-style board. In early trade, 22 out of 25 listed companies on the board were trading lower, with some shares trading down as much as 18%. Micro-Tech Co., a medical device company, bucked the overall trend, rising about 15%.

The debut of the STAR Market on Monday saw some shares climb as much as 520%, and more than doubled the board’s combined market capitalization.

I thought every company with a 200% increase in value was pretty normal🤔

Was anyone expecting it to be stable on day 1?

I feel like “Chinese stock market” could become a metaphor.

España Últimas Noticias, España Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Most companies surge on first day of trade on China's STAR MarketChina's new Nasdaq-style board for homegrown technology firms started tradi... No bar in the A Ripple Lol. Which one is it you clowns? America is asleep at the wheel...
Fuente: Reuters - 🏆 2. / 97 Leer más »

China kicks off new Shanghai tech board as it tests new ways to improve volatile stock marketIn its latest attempt to build market credibility, China on Monday launched the Science and Technology Innovation Board, or 'STAR Market,' on which 25 companies were listed.
Fuente: CNBC - 🏆 12. / 72 Leer más »