SHANGHAI, July 23 (Reuters) - China’s STAR Market kicked off its second day of trading on Tuesday with sharp falls in most listed shares a day after they posted average gains of 140%, underscoring the volatility of the country’s new Nasdaq-style board.
In early trade, 22 out of 25 listed companies on the board were trading lower, with some shares trading down as much as 18%. Micro-Tech (Nanjing) Co., a medical device company, bucked the overall trend, rising about 15%.
The debut of the STAR Market on Monday saw some shares climb as much as 520%, and more than doubled the board’s combined market capitalisation.
Reporting by Andrew Galbraith; Editing by Kim Coghill