 "Day 1 of China's Nasdaq equivalent: 3 billionaires created on 'Star'")
China’s much-hyped new trading venue for technology stocks started with a bang on Monday, creating three new billionaires.
The 25 companies that debuted on the so-called Star market rose an average 140 per cent in the first trading day, making billionaires of the presidents of a battery-test equipment maker and an LCD-display manufacturer, as well as the chairman of a firm that produces artificial intelligence technology for smartphone cameras.
Rising personal fortunes thanks to the new Nasdaq-style venue could go some way toward helping China keep the next Alibaba Group Holding Ltd. at home rather than seeing its fastest-growing companies head to
