ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
China tech

China's answer to Nasdaq loses its shine

Tech bourse, filled with government-linked startups, dulls investor appetite

SHANGHAI -- A roller coaster might best describe the share price movement of Anji Microelectronics Technology Shanghai which went public on China's STAR market -- Chinese President Xi Jinping's answer to the Nasdaq - in July.

The stock price opened at 50 times its earnings, briefly sextupled, then plunged about 40% from its peak the next day. Ten days later, it bounced again, skyrocketing 40% from its previous low before dropping again. It currently trades at around 155 yuan, about 30% lower than its Aug. 5 peak.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more