The clamour for new stocks in China hit fever pitch in Shenzhen yesterday when trading was halted twice for some of the first debutants in more than a year after their prices rocketed beyond limits allowed for a first-day gain.
The giddy price moves also prompted the Shenzhen Stock Exchange to warn investors against excessive and blind speculation on new listings, but to make rational investment decisions.
Seven out of eight stocks that debuted yesterday closed more than 45 per cent above their listing price, while the eighth, which was not halted, closed 19 per cent higher.
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