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Japan's fresh wave of IPOs loses its momentum

STAR's fast launch in China also gives way to concerns about overheating

Of 11 companies that have listed on the Tokyo Stock Exchange's Mothers and JASDAQ markets since mid-June, share prices for eight have declined to levels below their opening price. (Photo by Rie Ishii) 

TOKYO -- A rush of initial public offerings in Japan is losing steam, with over 70% of the newly listed companies falling below their opening prices as investors begin to lose faith in the stock market's sustainability amid the country's struggles against the coronavirus

Since mid-June, 11 companies have listed on the Tokyo Stock Exchange's emerging markets, Mothers and JASDAQ.

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