SHANGHAI/HONG KONG -- The Beijing Stock Exchange, China's newest bourse, opened to a mixed reception on Monday, with debuting companies soaring while listings carried over from a preexisting board mostly fell.
The new exchange, whose creation was announced by President Xi Jinping just two months ago, is intended as a fresh source of capital for innovation-driven startups. Trading commenced with 81 stocks, of which 71 were brought over from the New Third Board, an over-the-counter market, while 10 "innovative-level" companies debuted directly on the BSE.
