Most companies surge on first day of trade on China's STAR Market

📆 22/07/2019 07:20:00
📰 Reuters

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China's new Nasdaq-style board for homegrown technology firms started tradi...

Shanghai Party Secretary Li Qiang and China Securities Regulatory Commission Chairman Yi Huiman attend the listing ceremony of the first batch of companies on STAR Market, China's new Nasdaq-style tech board, at Shanghai Stock Exchange in Shanghai, China July 22, 2019. REUTERS/Stringer

Most of the first batch of 25 companies - ranging from chip-makers to biotech firms - climbed quickly in early trade on the STAR Market, operated by the Shanghai Stock Exchange. Suzhou Harmontronics Automation Technology Co Ltd , however, triggered its circuit breaker in the opposite direction, falling 30% from the market open.

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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.
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