China's Nasdaq Rival Starts Trading

China warns investors not to get sucked into speculation mania as one share on Shanghai's new 25-stock Star Market jumps 400% on the first day

James Gard 22 July, 2019 | 12:23AM

 

 

Forty-eight years after the launch of the Nasdaq in New York, China’s first tech stock exchange has started trading. Shanghai’s Star Market consists of 25 stocks initially, with 100 companies having already applied to list on the exchange. Some 24 of the first 25 stocks are celebrating ther IPO as they list for the first time on the debut of the new exchange.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Alibaba Group Holding Ltd ADR248.58 USD-1.23
Tencent Holdings Ltd537.00 HKD2.29

About Author

James Gard  is content editor for Morningstar.co.uk

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