Photo: IC Photo
China’s Nasdaq-style tech board will have its first trading test this Saturday, according to an official notice.
According to a test plan from the Shanghai Stock Exchange, the bourse’s tech companies, information companies, trading participants and other related parties are required to attend the test.
The Saturday test will be a full-day trading simulation for nine key items, which includes subscription of new stocks and trading suspension of abnormal deals. Tests for the new price mechanism will also be arranged, which include doing away with the daily limits for stock price movements in the first five days of trading, and setting the limit after those five days at 20%. A daily limit of 20% doubles the one for stocks trading on other boards after the first trading day.
The regulator will arrange at least two other tests in May for the high-tech board. According to a document released by the China Securities Depository and Clearing Corp., all related technologies for the new board will be ready by the end of the month.