Beijing Stock Exchange on Monday has marked its official launch with 81 stocks of small and medium-sized enterprises (SMEs).
Shares of 10 companies that recently went through initial public offering (IPO) surged as much as six times and triggered circuit breakers.
Yang Hongxun, an analyst at interment consultancy Shenguang “It’s a pretty good performance for the first day. I don’t see a lot of froth,” said as reported by Reuters. He further added, “With President Xi endorsing the exchange, I see little chance of this market failing.”
Yi Huiman, chairman of the China Securities Regulatory Commission (CSRC) noted the launch of the Beijing exchange is a landmark in China’s capital market reforms.