"Neuer Markt" in China...
China's 'Nasdaq-Style' Exchange Sinks On Day 2 As Biggest Traders Lose Billions
...During the opening day of trading on China's new Nasdaq-style STAR Market, volatility was so intense that the average move among the 25 stocks listed on the exchange was a 140%+ increase. Some stocks climbed more than 500%. But unfortunately for the bulls, the euphoria couldn't last, and on Tuesday, investors started taking profits, causing STAR's five biggest individual shareholders to lose a combined $1 billion (that's after STAR added $44 billion to market cap). All but four companies of the 25 stocks listed on the market fell on Tuesday, erasing about 9% of the total market cap, Reuters reports. ...
...Unsurprisingly, margin loans helped power trading on Monday, according to data from the Shanghai Stock Exchange. Investors borrowed a total $219.38 million to bolster their buying power....
https://www.zerohedge.com/news/2019-07-2...-1-billion
China's 'Nasdaq-Style' Exchange Sinks On Day 2 As Biggest Traders Lose Billions
...During the opening day of trading on China's new Nasdaq-style STAR Market, volatility was so intense that the average move among the 25 stocks listed on the exchange was a 140%+ increase. Some stocks climbed more than 500%. But unfortunately for the bulls, the euphoria couldn't last, and on Tuesday, investors started taking profits, causing STAR's five biggest individual shareholders to lose a combined $1 billion (that's after STAR added $44 billion to market cap). All but four companies of the 25 stocks listed on the market fell on Tuesday, erasing about 9% of the total market cap, Reuters reports. ...
...Unsurprisingly, margin loans helped power trading on Monday, according to data from the Shanghai Stock Exchange. Investors borrowed a total $219.38 million to bolster their buying power....
https://www.zerohedge.com/news/2019-07-2...-1-billion
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