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Shanghai’s New Tech Board Sees High Valuations in First Month

By Timmy Shen / Aug 23, 2019 02:45 PM / Finance

Photo: VCG

Photo: VCG

Shanghai’s new tech board, dubbed the Star Market, has been up and running for a month since it started trading on July 22, and investors generally remain enthusiastic.

On Thursday, the board’s average price-to-earnings (PE) ratio was nearly 90, much higher than the ratio of 42 on Shenzhen’s ChiNext board, which hosts mostly tech companies, according to data from the Shanghai and Shenzhen stock exchanges.

In its first month of trading, the Star Market’s turnover totaled nearly 600 billion yuan ($84.6 billion), accounting for about 15.7% of the Shanghai stock market’s total turnover, data from the Shanghai bourse shows.

Read the full story on Caixin Global later today.

Contact reporter Timmy Shen (hongmingshen@caixin.com) 

Related: In Depth: China’s New Tech Board Takes Off for Long-Term Mission

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