-
Important news
-
News
-
Shenzhen
-
China
-
World
-
Opinion
-
Sports
-
Kaleidoscope
-
Photo Highlights
-
Business
-
Markets
-
Business/Markets
-
World Economy
-
Speak Shenzhen
-
Leisure Highlights
-
Culture
-
Travel
-
Entertainment
-
Digital Paper
-
In depth
-
Weekend
-
Lifestyle
-
Diversions
-
Movies
-
Hotels
-
Special Report
-
Yes Teens
-
News Picks
-
Tech and Science
-
Glamour
-
Campus
-
Budding Writers
-
Fun
-
Futian Today
-
Advertorial
-
CHTF Special
-
FOCUS
-
Guide
-
Nanshan
-
Hit Bravo
-
People
-
Person of the week
-
Majors Forum
-
Shopping
-
Investment
-
Tech and Vogue
-
Junior Journalist Program
-
Currency Focus
-
Food Drink
-
Restaurants
-
Yearend Review
-
QINGDAO TODAY
在线翻译:
szdaily -> Markets -> 
Hi-tech park operators surge on tech board plan
    2018-11-22  08:53    Shenzhen Daily

AMID the rubble of the stock market, Chinese speculators have found gold — in the shape of hi-tech park operators.

Such shares have surged this month as investors sought beneficiaries of the government’s plan to set up a stock trading board in Shanghai for technology companies.

Shanghai Shibei Hi-Tech Co. has more than tripled since President Xi Jinping announced the proposal Nov. 5, while park developers in Beijing and Tianjin have also rallied.

“There are very few details about the tech board, so all the rallies now are just pure speculation to me,” said Zhang Gang, Shanghai-based strategist at Central China Securities Co.

Extreme moves in stocks vaguely related to policy announcements aren’t unusual in China’s equity market.

In 2013, approval of Shanghai’s free trade zone sparked a boom in shares with Shanghai in their names. Stocks soared last year when investors caught wind of a plan to develop a new economic zone in Xiongan region near Beijing. Such gains typically unwind quickly.

Shibei Hi-Tech said Monday its recent share price moves have deviated from fundamentals and warned investors of risks. The stock gained by the 10 percent limit every day since Nov. 5 until yesterday, when it swung between losses and gains and closed up 1.53 percent.

Luxin Venture Capital Group Co., which derived most of its 2017 revenue from manufacturing abrasive products, has rallied 122 percent since No. 5. Shanghai Zhangjiang High-Tech Park Development Co. has jumped 73 percent, while hi-tech park developers in Beijing and Tianjin have gained more than 35 percent.

“Investors are buying everything that has the slightest hint of being related to the high-tech concept,” said Wang Chen, Shanghai-based partner with XuFunds Investment Management Co. “They are all just playing the game of who will be the last fool to take the relay baton.”

(SD-Agencies)

深圳报业集团版权所有, 未经授权禁止复制; Copyright 2010, All Rights Reserved.
Shenzhen Daily E-mail:szdaily@szszd.com.cn