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Trading kicks off on Beijing Stock Exchange, 10 stocks surge

Trading on the Beijing Stock Exchange kicked off on Monday, with shares of the 10 companies that recently conducted initial public offerings (IPOs) on the new Chinese bourse surging as much as six-fold and triggering circuit breakers. A total of 81 stocks started trading to mark the official launch of the exchange – which has been set up to serve small and medium-sized enterprises (SMEs), underpinning President Xi Jinping’s “common prosperity” policy aimed at reducing wealth gaps in the country. “With President Xi endorsing the exchange, I see little chance of this market failing.”

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