10/30/2009, 00.00
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Take off in Shenzhen for Chinese Nasdaq: Dual stock prices

The exchanges have been stopped several times for fears of speculation. The Shenzhen Stock Exchange will launch a special index for the electronic market.

Shenzhen (AsiaNews / Agencies) - The stock of ChiNext, the Nasdaq-style stock market took off this morning at the Shenzhen Stock Exchange, raising at least twice the share prices of the 28 titles on the list.

The ChiNext has stopped all trade for 30 minutes in the morning, after all shares had risen by 20% immediately, to try to curb speculation. Approximately half of the titles were stopped again for another 30 minutes, having risen to over 50% of their original price.

The Huayi Brothers Media Corp., a manufacturer of film, is one that grew faster, by 122.74% of the original; Zhongyuan Huadian Co. Ltd, an electronics industry company, is one that rose less, by 46.26%. Eventually the majority of the shares had risen by 80%.

The Shenzhen Stock Exchange said it will launch a special index for ChiNext, but has not said when.

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