China's new Nasdaq-style stock market for startups began trading on Friday, and shares of all 28 listed companies soared in price.
The ChiNext exchange, or Growth Enterprise Market, is modeled after the US-based Nasdaq market and is designed to nurture small, high-tech firms.
At an opening ceremony at the stock exchange in Shenzhen, in the southern province of Guangdong, Assistant Chairperson Liu Xinhua of the China Securities Regulatory Commission said the government will listen to investors and strive to improve services.
Representatives of the 28 newly listed companies rang a bell to mark the start of the trading at 9:30 AM local time.
Buy orders flooded in as trading opened, and all listed stocks surged, some 3 times higher than their initial offering prices, leading to a suspension of trading.
The speculative surge indicated investors' strong interest in the new exchange.
China's economy has been recovering high growth rates, and real estate prices are rising sharply in some cities after the government implemented stimulus measures and money-easing policy.
The government is watching closely to prevent the overheated economy from spreading to stock markets.
2009/10/30 19:43(JST)
(JST: UTC+9hrs.)
http://www.nhk.or.jp/daily/english/30_32.html 
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