Hey amigos! Ever heard of China's STAR Market? 🌟 Imagine a rollercoaster ride 🎢 that starts off shaky but ends with an epic view! That's the journey of the STAR Market, the Science and Technology Innovation Board of the Shanghai Stock Exchange. Let's dive in!
Back in 2019, amidst some serious trade tensions between China and the U.S., the STAR Market was launched. It was like setting sail during a storm ⛵️🌩️. In the first two and a half years, it surged by a whopping 40%! 📈 But then, things got rocky, and it dipped by 46% afterward. Ouch! 😬
But here's the twist! Despite the wild ups and downs, and even with the world dealing with a pandemic 🦠 and economic slowdown, the STAR Market didn't just survive—it thrived! 🌱
Check this out: The market's value skyrocketed from 560.7 billion yuan ($77.31 billion) at the start to a staggering 5.17 trillion yuan by May 2024! 💰 That's like turning a single pizza slice into an all-you-can-eat buffet! 🍕➡️🍕🍕🍕🍕🍕
Not only that, but its share of the entire Shanghai Stock Exchange grew from 1.7% to 12.1%. And its trading volume? It jumped from 5.6% to 15.3% of the exchange. Talk about glow-up goals! ✨
What's fueling this rocket? 🚀 Well, the STAR Market is all about innovation and technology—it's like the cool kid on the block that's attracting all the attention. It's become a powerhouse for fundraising, making up 40% of initial public offerings on the Shanghai exchange last year. That's huge! 🤯
So, what does this mean for young investors like us? It's a signal that opportunities are blooming in places we might not expect. The STAR Market's journey reminds us that even when the road gets tough, perseverance can lead to stellar success. 🌠
Ready to explore more about global markets and find your own STAR? Keep your eyes on the horizon, amigos! 🌅
Reference(s):
cgtn.com
