China’s new NASDAQ-style tech board in Shanghai has posted an impressive performance in its first three months of operation.
A new report from CIB Research (兴业研究) found that as of the close of trading on 22 October the average increase in STAR Market stocks relative to their opening price was 97.88%.
The STAR Market saw the simultaneous listing of 25 new stocks on 22 July, a number which has since expanded to 34.
Another 17 companies are currently awaiting listing on the STAR Market board.
Figures from financial data supplier Wind indicates that as of 22 October the total market capitalisation of the 34 stocks listed on the STAR Market board was 544.354 billion yuan, for an average market capitalisation of 16 billion yuan.
The three biggest companies on the STAR Market board in terms of market capitalisation were China Railway Signal & Communication (76.442 billion yuan), Montage Technology (66.659 billion yuan) and Transsion (33.552 billion yuan).