morning session: Chinese leadership is pinning hope on STAR to help raise funds for dozens of new and high-tech upstarts scattered in major Chinese cities - mostly in Shenzhen, Shanghai, Beijing, Hangzhou, Xi'an and Chengdu, according to Global Times China. STAR is managed by the Shanghai Stock Exchange. Market analysts said that the stellar ride of STAR market mirrors the thrilling sentiment of Chinese institutional and individual investors, who gauge the strong support from China's central authorities as a loud bullhorn for buying-in. All 25 existing stocks edged up as of the end of the morning session on Wednesday, with most shares rebounding by 5-10 percent. However, increases were milder compared to the first day of trading, when 16 out of the 25 companies saw their share prices double. Four stocks rallied more than 10 percent, led by Fuguang Technology with an impressive 25 percent gain.
(news.financializer.com). As
reported in the news.
Tagged under morning session, chengdu star topics.