May 23, 2022
According to data from the Shanghai Stock Exchange’s sci-tech innovation board, also known as the STAR market, the board has become increasingly appealing to foreign investors.
So far, nearly 90% of the board’s stocks covered by the STAR market connectivity mechanism have been included in MSCI, FTSE Russell, and S&P Dow Jones, and the number is growing.
Foreign institutions are buying up stocks on the STAR market, with international investors accounting for nearly 5% of the total by the end of 2021.
According to the board’s data, international investors have a growing appetite for new stock issuance. By the end of February, 98 foreign institutions had taken part in the preliminary inquiry of the STAR market’s primary market, with 78 of them being assigned shares.
Firms on the STAR market performed admirably, with revenue and net profit in the SSE STAR Market 50 Index increasing by 35% and 76% year on year in the first quarter of this year, respectively.
Source: China Daily
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