Trading on the Shanghai Stock Exchange’s Star Market, a board for hi-tech companies, started on July 22, 2019. Photo: AP Photo
China’s Nasdaq-style Star Market fast losing momentum as stretched valuations, IPO pipeline weigh on investor sentiment
- Average daily turnover has slumped by more than 60 per cent since trading started in July
- Combined market capitalisation of the 34 companies on the Star board has fallen 22 per cent from its peak of 690.2 billion yuan
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Stocks
Trading on the Shanghai Stock Exchange’s Star Market, a board for hi-tech companies, started on July 22, 2019. Photo: AP Photo