Investors were warned of speculative froth in the Chinese market after Sichuan Expressway, the first company to list on the Shanghai exchange in almost a year, more than tripled on its trading debut.
The shares in the Chinese toll road operator closed up 202 per cent at Rmb10.90 from its initial public offering price of Rmb3.60 after trading was suspended twice when it hit a high of 323 per cent.
The steep gains bode well for the trading debut of China State Construction Engineering Corporation, the largest home builder, which is expected to start trading tomorrow, and for companies that will list on Shenzhen's planned new board.
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