Star Bounces Off: Stocks Tumble on Second Day of Trading
Only four of 25 companies listed on the new China's Nasdaq-style board, known as STAR, closed the morning trading session in the red.
This caused average market P/E ratio to slip from yesterday's 102.66 (trailing 12 month) and 99.14 (last-year ratio) to 95.19 and 92.65 respectively.
WiFi chipset producer Espressif Systems (688018:SH), which yesterday finished 106.25% above the initial IPO price, has seen another 15.06% leap in today's morning session, the company's market cap thereby hit CNY 11.88 billion (USD 1.73 billion).
Traffic Control (688015:SH), another firm representing transportation industry, lost 10.55% of the stock value.