China’s new Nasdaq-style stock trading board debuted last week like a skyrocket blazing across the firmament of world equity trading. Now the question is how the STAR Market will perform as the dazzle fades and it comes down to earth.

By the end of the week, the first-day frenzy of the Monday opening showed signs of cooling. The new board is expected to continue an upward trajectory for a while as new investment targets are scarce relative to demand and market enthusiasm is high, analysts said. But sooner or later, the market will fall back to rational levels and stock prices will reflect companies’ business performance, they said.

At the same time, the STAR Market has a long-term mission of pioneering reforms for China’s stock markets, including registration-based listings, looser restrictions on price movements and broader use of short selling and margin trading.

So how is the board likely to fare? Read the full story here.