If STAR Market has to shine brightly, long-term investors are the key
By Lynda Zhou and Jackie Chien | China Daily | Updated: 2019-08-12 07:28
Shanghai's new sci-tech STAR Market, which is compared to Nasdaq, got off to a sparkling debut on July 22, but the real deal for long-term investors is in the deeper market-based reforms the new board seeks to advance.
It was all sparkle and shine when the first 25 companies debuted on July 22 on China's answer to Nasdaq, Shanghai's new sci-tech-focused STAR Market. Every stock rose, with first-day trading gains ranging from 80 percent to over 500 percent.
As of Friday, the stocks had been traded for 15 trading days and registered a dazzling average gain of 20 percent since their debut, eclipsing other boards of the A-share market.
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