star market shanghai: China to launch market making on technology-focused STAR Market on Monday

China’s Nasdaq-esque STAR market will officially launch marketmaking on Monday, in an effort to make the tech-focused board more fluid, vibrant and resilient, according to the Shanghai Stock Exchange.

The first set of qualified market markers on STAR will begin trading next week, which will lower investors’ trading costs and improve price efficiency, the exchange said in a statement on its website.

Home to some of China’s largest chipmakers, biotech companies and high-end manufacturers, the STAR Market has been tasked with funding Beijing’s technological innovation amid growing Chinese-American rivalry.

The Shanghai Stock Exchange said it will continue to improve market mechanisms to help China achieve technical independence and self-sufficiency.

Regulators have approved 14 brokers as the first batch of market makers, actively trading stocks, providing liquidity and depth to the market.

They include Industrial Securities, Guotai Junan Securities, and Sinolink Securities.

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