(Yicai Global) July 26 -- All of the 25 shares on Shanghai's new Star Market have risen during their first week of trading while Anji Microelectronics Technology logged the strongest gain in stock price.
Anji Microelectronics [SHA:688019], a Shanghai-based semiconductor firm, boosted its share price nearly five times to CNY176.25 (USD25.60). The bourse will start implementing daily price limits next week, which may restrict such high jumps.
The total turnover of the Star Market is CNY142.8 billion (USD20.8 billion) for the whole week. The average price-to-earnings ratio is buoyant at about 120. Some 77 percent of the 25 stocks changed hands on the first day while the ratio declined during the week to 31 percent today.
Editor: Emmi Laine