How China Hopes to Launch More Tech Stock STARs—Data Sheet [Fortune]
FireEye, Inc. (FEYE)
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Source: Fortune
Pinterest This is the web version of Data Sheet, Fortune’s daily newsletter on the top tech news. To get it delivered daily to your in-box, sign up here China's new equity exchange for tech companies got off to rollicking start this week. The Shanghai Stock Exchange's Science and nology Innovation board, dubbed the STAR Market by Chinese authorities, launched Monday with 25 newly-listed companies. Opening day was pandemonium STAR's stars fell only a little on Tuesday and Wednesday More than 140 companies Beijing hopes STAR, which has strong backing from Chinese president Xi Jinping, will emulate—and eventually compete with—the Nasdaq in fostering innovative startups. It has long been a source of irritation to China's leaders that the nation's hottest tech companies—including Alibaba Group, Tencent, Baidu, and smartphone maker Xiaomi—have opted to float shares in the United States or Hong Kong and largely ignored exchanges in Shanghai and Shenzhen. One reason for STAR's giddy opening:
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