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The Star Market, China’s reaction to the Nasdaq, is celebrated its first anniversary this week.
The highly technological stock position was created at the request of President Xi Jinping as relations began to deteriorate.
Official friend recognized as the Shanghai Stock Exchange’s Scientific and Technological Innovation Council, now includes more than 120 companies.
It is in a position on Asia’s maximum value stock market, valued at more than $4 billion (31 billion pounds).
This month, it reached a record point in new charts, as it grossed more than $7 billion, a design of up to 46% compared directly to July 2019, according to Apple Refinitiv figures.
That increased through last week’s semiconductor manufacturer’s SMIC list, China’s largest stock market position in a decade.
Experts that Star’s market position is well placed to attract Hong Kong directors, given the political tensions there and the United States restricting the board of Chinese companies.
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But can you compete with the Nasdaq one hundred that is more than 20 times bigger?
The Stodaret Nasdaq (National Association of Automated Quote Securities Distributors) includes its largest-generation corporations in an index called the Nasdaq 100.
This index monitors the world’s most valuable generation companies, adding Apple, Microcushy, and Amazon. It was charged about $10 billion at the end of 2019.
To mark its first anniversary, the Star Market announced Thursday that it is also separated from its larger listings, to be included in the Star Market 50 index.
“The direct decision for best friends to open China’s capital markets is an obvious long-term truth, so the prudence of a continental Nasdaq will take a stand in the future,” said Andy Maynard, managing director of investment bank China Renaissance.
“The truth about the length and complexity of the game of China’s fiery economy will make China a great global friend, just as the Nasdaq has done in the days of ‘dot.com’.”
“The conditions are very exciting and would make the Star Market a worthy rival of the Nasdaq,” added Jacob Doo, chief investment officer of Envysion Wealth Management.
The main thing is that the essential elements of the Star market position directory “are less stringent than the Nasdaq, which has imposed restrictions on IPOs for Chinese companies,” Doo said.
Ant Group, Alibaba’s economic arm, plans to move to the Star market position this year and could also attract more generation corporations to adapt.
Chinese car manufacturer Geely, which makes black taxis in London, also plans to move to the Star market.
However, experts say the Star market position deserves to be more available to foreign investors to continue attracting more listings.