For one 26-year-old investor, the launch of Shanghai’s new technology-focused stock market has brought a huge windfall.
“I was not expecting too much, but my luck was good …I didn’t look at the fundamentals,” said Ms Xu, who managed to snap up shares in one of the 25 companies to debut on the Star market on Monday.
Ms Xu, who did not wish to give her first name, had Rmb2m ($290,700) to invest — a gift from her parents. She spent about half of it on Beijing Piesat Information Technology — a stock which rocketed along with several others on its first day of trading. “I woke up at 10am, and the share price had doubled,” she said. “It definitely surpassed my expectations. It was money that came from the heavens without me doing anything.”
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