(Yicai Global) Aug 3 -- China’s mainland stock markets got off to a strong start in August, buoyed by relatively loose monetary policies and a promising V-shaped recovery from the economic fallout caused by the novel coronavirus pandemic.

Shanghai’s new tech board, the Star 50 Index, led the gains, rising 7.26 percent to close at 1,622.81. The sub-market opened on the Shanghai Stock Exchange’s Star Market late last month, as a stepping stone for tech startups to go public. Unlike other mainland exchanges which have a daily maximum upper and lower limit of 10 percent, the Star 50 Index allows fluctuations of up to 20 percent per day.

The Shanghai Composite Index moved up 1.75 percent to finish at 3,367.97. The Shenzhen Component Index ended at 13,964.56, up 2.4 percent. The ChiNext Price Index, which tracks growth enterprises in Shenzhen, rose 2.63 percent to 2,868.88.

Editor: Kim Taylor