China: Stock market slump threatens to spoil Nasdaq-style board plan

[BEIJING] A sell-off in Chinese stocks threatens to take the fizz out of one of the country's biggest capital market reforms in years.

"The slump in the stock market will definitely impact progress of the new tech board," said Jiang Liangqing, a Beijing-based fund manager at Ruisen Capital Management."If the Shanghai benchmark falls below the year's low, it might be a serious problem and may even lead a postponement of the board." "The new board mainly focuses on technology companies, which are more vulnerable to market fluctuations compared to more established businesses," Mr Jiang said."Some issuers may raise less money than planned or even fail to get deals done."Mark Huang, an analyst at Bright Smart Securities in Hong Kong, said the board's prospects could be alright if the market stays in a"reasonable range".

and then inflation and money supply data in the following days. Export growth is forecast to slow to 3 per cent from a year earlier compared with an increase of 14.2 per cent in March.

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