Source: Dubai – Arabic.net
Shares in his first appearance on the Shanghai Stock Exchange in China increased by 10 times compared to the price of his initial offering, which is the latest sign of the attractiveness of the Chinese stock market, which is valued at $ 9.3 trillion.
The shares of QuantumCTek Co, which is developing information security products, closed 924% above the offering price of 36.18 yuan ($ 5.18).
This rise exceeded the record rise of “Tinavi Medical Technologies Co” share during the first trading day on Tuesday, which amounted to 614%.
These shares are listed on the “Star” platform, which will celebrate its first year later this month. Shares listed on this platform do not adhere to a specified price range during the first five days of trading. In the rest of the Chinese stock market, there is a maximum price change of 44% during the first trading day, and 10% in the rest of the trading day.
This comes at a time when trading values and volumes are increasing in China. The market value of the Chinese stock market has increased by more than one trillion dollars since June 30, surpassing all other markets in the world.
Chinese stocks continued to rise on Thursday, and the Shanghai Composite Index rose 1.4% to its highest level since February 2018.