So, you want to quintuple your money in a day? Investors in Anji Microelectronics got just that. The semiconductor parts maker was part of the first batch of stocks to list on Shanghai’s Star Market, a would-be Asian rival to Nasdaq. Investors cheered China’s most notable attempt to promote direct financing and deregulate markets since launching ChiNext, a similar attempt, a decade ago. Funds poured into Star Market. But history suggests these spectacular gains are overdone.
那麼,你想在一天內實現本金的五倍升值嗎?安集微電子科技(Anji Microelectronics)的投資者就實現了。這家半導體零組件製造商是首批在上海證券交易所科創板(SSE Star Market)上市的股票之一,該市場是那斯達克(Nasdaq)在亞洲的潛在競爭對手。自10年前發起類似嘗試,即推出深圳證券交易所創業板(ChiNext)以來,這是中國在推動直接融資和放鬆市場管制方面最值得一提的嘗試,投資者對此表示歡呼。資金湧入科創板。但歷史似乎表明,這些驚人的漲幅過頭了。