All 28 stocks closed up 75% higher at GEM's first trading day

Published: 30 Oct 2009 02:02:01 PST

All 28 new stocks listed on China's Nasdaq-style Growth Enterprises Board (GEB) closed on its first trading day Friday 75 percent higher, with two stocks closing at over 100 yuan.

All the stocks soared at the opening, and were suspended at least once and some even three times during their first trading day to prevent wild price fluctuations .

As the closing bell sounded, one stock soared more than 200 percent from its IPO price and nine stocks closed up 100 percent higher, while a number of stocks increased by between 70 to 90 percent.

Two stocks, namely N Tai Yue and N Hong Ri closed over 100 yuan, up 77.41 percent and 77.50 percent from their IPO prices respectively.

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