nikkei nik: Japan's Nikkei 225 NIK, 0.41% closed down 0.2%, the Shanghai Composite index fell 1.3% SHCOMP, 0.80% Australia's S&P/ASX 200 XJO, 0.77% ended down 0.1%, South Korea's Kospi 180721, -0.91% closed unchanged, and Hong Kong's Hang Seng HSI, 0.26% dropped 1.3%. Taiwan's Taiex Y9999, -0.11% bucked the trend with a gain of 0.6%, along with Singapore STI, -0.20% rose 0.6%. Regulators have approved 25 companies in information technology and other fields for the STAR Market, according to Market Watch. The market, modeled on the U.S.-based NASDAQ, reflects the ruling Communist Party's desire to channel private capital into its development plans. Prices of the 25 companies listed on the Shanghai Stock Exchange's STAR Market more than doubled, with one company, Anji Microelectronics Technology Shanghai Co., Ltd. 688019, 2.38% logging a 415% advance. It gives small Chinese investors a chance to buy into tech industries that until now have turned to Wall Street to sell shares. Trading in the new market is expected to be volatile in the early going. Shares surged in early trading, thanks to massive oversubscription in IPO shares by retail investors.
(news.financializer.com). As
reported in the news.
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