tyb and nice snipage
o7
nice alva kneeboard anon
fuck off loser faggot
trips confirm great to hear that. Been a long time on a real board but still ride my sponge when I can fight off the spergs hogging the line-up.
China's new Nasdaq-style Star Market plunges on second day of trading
[SHANGHAI] China's Star Market kicked off its second day of trading on Tuesday with sharp falls in most listed shares a day after they posted average gains of 140 per cent, underscoring the volatility of the country's new Nasdaq-style board.
In early trade, 22 out of 25 listed companies on the board were trading lower, with some shares trading down as much as 18 per cent. Micro-Tech (Nanjing) Co, a medical device company, bucked the overall trend, rising about 15 per cent.
The debut of the Star Market on Monday saw some shares climb as much as 520 per cent, and more than doubled the board's combined market capitalisation.
https://www.businesstimes.com.sg/stocks/chinas-new-nasdaq-style-star-market-plunges-on-second-day-of-trading
What is China's STAR Market?
The Shanghai Stock Exchange has created a hot new market showcasing some of China's most promising tech companies, all with the goal of catching up to America's Nasdaq, the birthplace of many of the world's legendary and pathbreaking tech giants.
The Shanghai Stock Exchange Science and Technology Innovation Board is being called the STAR Market for short by Chinese authorities, and began trading on Monday with 25 listed companies.
These stocks ended the opening day with sizzling gains ranging from 84% to 400%, The Wall Street Journal reports.
“It’s a bit crazy, but I think the situation will calm down a bit in the next few days,” Jack Zhang, an analyst at BOC International, a securities brokerage and investment banking subsidiary of the Bank of China, told the Journal.
He believes that individual investors with an appetite for risky speculation drove most of the first-day action.
“Gains were much stronger than expected, either due to unreasonable IPO pricing or speculative trading,” Zhu Junchun, a Shanghai-based analyst with Lianxun Securities Co., told Bloomberg.
“It’s going to be a liquidity game in the first half year or one year of trading. Judging by the trading activity and gains on the board, it’s definitely a success,” he added.
*The STAR Market is China's latest challenge to Nasdaq.
*Its initial listings are IPOs, mainly from tech startups.
*It allows wider price swings than other Chinese markets.
*It is the only market in China where loss-making firms can go public.
*Huge opening day gains were driven by heavy speculation.
Challenging Nasdaq
China's vision is to make the STAR Market a serious competitor to the Nasdaq, and that IPOs from innovative Chinese startups will be listed there rather than on exchanges in the U.S. or Hong Kong.
The concept of the STAR Market has a big advocate in Chinese President Xi Jinping, whose goal is to spur a new burst of economic growth in his country and to make China a global technology leader, going far beyond its current role as a low-cost manufacturing and assembly venue for foreign tech firms.
STAR comes as China and the U.S. are locked in a protracted trade war that's hurt the sales and profits of large tech companies from both nations, with no quick resolution in sight.
Since March, 149 Chinese firms have applied for listing on the STAR Market, with 28 of these having received approvals so far, and 25 having actually launched their IPOs, per the Journal.
These 25 have raised a combined 37 billion yuan ($5.4 billion), and their average trailing P/E ratio is a hefty 53.4 times earnings, the report adds. The amount raised exceeded expectations by about 20%, Bloomberg notes.
STAR Market also will accept companies that are already listed in Hong Kong, per the Journal. Only certain qualified foreign investors can purchase shares listed on the STAR Market directly, Bloomberg indicates.Relaxed Regulations
The eye-popping opening day returns are partly the result of a regulatory exemption for the STAR Market, suspending a rule that otherwise limits first-day gains to 44% on the Shanghai and Shenzhen exchanges, per the Journal.
After the first five trading days, however, daily price moves will be capped at 20% either up or down.
https://www.investopedia.com/what-is-china-s-star-market-4693703
ty anon, not as much in recent years, and I watch it..live here! Got to have a sponge in summer as no waves and too many tourists. I regret letting my 9ft tri go to a family member but could not use it.
The life-style never leaves you, or it shouldn't
this (pic) was on a BIG day at Waimea last december. Have wanted to go for years and finally saw a HUGE day in person. I almost cried being so habby
o7