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Aya Lin · · 1 min readIn brief: Trading on China’s new Nasdaq-style tech board starts, shares soar
- Trading on Star Market, the new Nasdaq-like tech board of the Shanghai Stock Exchange, has begun today, with the 25 stocks listed gaining 160% on average by midday, CNN reported.
- Shares in Anji Microelectronics Technology, which makes materials for semiconductors, has soared to as much as 520% before declining a little.
- Analysts attributed the gains to China’s desire for a strong market debut and unrealistic expectations among investors, which is fueled by bullish propaganda.
Editing by Charmaine de Lazo
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