The Business Times
The Business Times
Subscribe
Share on FacebookShare on TwitterView more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN

Companies & Markets

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

Published Tue, Jul 23, 2019 · 02:07 AM
Share this article.

[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

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Capital Markets & Currencies

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here