Financials

The Star Market Overview 3Q 2020

Financials Author: Yingwei Fu Oct 31, 2020 08:00 PM (GMT+8)

ContributorsBeier Kan, Qing Lan, Hang Yang, Ivan Platonov

EditorLuke Sheehan

Pages24

CopyrightEqualOcean Intelligence

Download For Free

Introduction

EqualOcean's fourth quarterly overview of the fledgling marketplace. Here, we adhere to the same structure as in our previous paper: a data-heavy first chapter is followed by a second part describing regulatory shifts and other narrative elements essential to telling the story of China's financial opening-up.

Highlights

The free-float market cap of all the Star Market-listed firms as of September 30 reached CNY 579 billion
The 63 IPOs in 3Q 2020 collected CNY 21 billion, accounting to 58% of A share's proceeds
Semiconductor stocks were down by 4.3% – still retaining the largest market cap
China's financial sector continued to open up, started to accept Chinese Depository Receipts to attract more applicants and issued the first foreign mutual fund license
The launch of the board's composite index Star 50 happened in the beginning of 3Q 2020

1 Growth and Fluctuations: numbers, patterns and industries
2 More standardized, more diverse: rules, upgrades and stories