China has launched a NASDAQ-rival, STAR, for tech stocks (1), causing share prices to rise (2) while replacing the need for startups to list on international exchanges (3). With demand for listings high, IPO valuations are soaring (4).
Other parts of Asia are opening up with Myanmar’s stock market now allowing direct ownership of shares (5), with plans for alternative trading in unlisted companies (6).
The early phase of the new exchange has been rocked by volatility (7) after a more relaxed “market driven” pricing mechanism was put in place (8), while losses are piling up in Hong Kong with a severe losing streak not seen in decades (9).
Indian equity markets have also felt the downward pressure of negative socioeconomic and political sentiment (10).
References
China’s Nasdaq-style market for tech stocks to debut on July 22
Every new stock surges in dream start for China’s tech board
China tech stocks soar as Nasdaq-style board for startups opens
China IPO Breaks New Ground Pricing Shares at 468 Times Profit
Myanmar plans alternative market to jump-start stock exchange
China’s ‘Nasdaq-Style’ Exchange Sinks On Day 2 As Biggest Traders Lose Billions
Yuanta Securities steps up globalisation plans | yuanta securities, taiwan, awards | FinanceAsia
‘I Can’t See Where The Bottom Is’: Hong Kong Shares Plunge In Longest Losing Streak Since 1997
Sensex, Nifty log worst July in 17 years amid worries of a further slowdown