Beijing Stock Exchange Launches With New Listings Surging
- Bourse to help small and medium-sized firms raise capital
- Auto parts supplier jumps 511% in early morning trading
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A cohort of companies making their debut on Beijing’s first-ever stock exchange under the Communist Party’s rule rallied on the first day of trading, welcome news to Chinese leaders who have been fighting an uphill battle to drive funding for small business.
All the 10 companies newly listed on the Beijing Stock Exchange more than doubled on Monday, with auto parts maker Henan Tongxin Transmission Co. being the top gainer with a 511% surge and quartz crystal component maker AnHui Jing Sai Technology Co. jumping 255%. The performances of another 71 companies that migrated from an existing Chinese board were mixed.