Chinese Banks Riding on High of Shanghai’s Nasdaq-Style Tech Board
People take photos during an opening ceremony of the Shanghai Stock Exchange's new Star Market on July 22.
Photographer: STR/AFP via Getty Images
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China’s new Star Market may be coming down from its feverish first day surge, but Chinese banks that worked on the deals are still enjoying the high.
Chinese investment banks account for seven of the top 10 banks in Asia for initial public offerings this year, the best showing since Bloomberg started compiling data in 1999. CITIC Securities and China International Capital Corp. top the list, with 9% and 7.4% of market share, data compiled by Bloomberg show. The last time Chinese banks accounted for more than half of the top 10 banks was in 2011.