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

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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 per cent, underscoring the volatility of the country's new Nasdaq-style board.

[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 per cent, 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 per cent. Micro-Tech (Nanjing) Co, a medical device company, bucked the overall trend, rising about 15 per cent.

The debut of the Star Market on Monday saw some shares climb as much as 520 per cent, and more than doubled the board's combined market capitalisation.

REUTERS

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