March 08 was the first day for the Shenzhen Stock Exchange to carry out the system for temporary trading suspension on the first day for IPO stock listing, and on the same day, the two new stocks, i.e., Blue Silver Equipment and Boya Bio-pharmaceutical, was listed on ChiNext board. Boya Bio-pharmaceutical rose 52 percent at the market opening; and its trading had to been suspended temporarily from 9:51 a.m. through 14:57 p.m. due to over 50 percent hands change ratio; until the market close, the stock gained 55.20 percent with the daily hands change ratio of 62.97 percent. Blue Silver Equipment rose 27.34 percent at the market opening; and its trading also had to been suspended accidently from 9:57 AM through 14:57 PM due to over 50 percent hands change ratio; until the market close, the stock gained 29.84 percent with the daily hands change ratio of 63.49 percent. Compared to other stocks newly listed on ChiNext board, the above two new stocks had the significantly decreasing fluctuation in intraday trading with the dramatically slid hands change ratio, signaling that the efforts to prevent speculation had gotten the positive effect.
According to the participant data, most investors to make trading on the first trading day are small and medium individual investors, and professional institutions like fund management companies generally do not trade on the day. The statistics shows that only 11 individual investors bought more than 50,000 Boya shares, accounting for 8.02 percent of the totaled shares; 5777 individuals buying less than 10,000 shares took 96.82 percent of the account number, representing 60.09 percent of the totaled shares, among theses investors, 5517 purchased not more than 5000 shares, accounting for 92.46 percent of the account number and 42.92 percent of the totaled shares. Especially since the trading resumed afternoon and during the closing auction call, individual investors buying Boya and Blue Silver shares below 10,000 respectively reached 1406, 1279, accounting for as high as 97.5 percent, 97.7 percent of respective account number, representing 66.67 percent and 74.09 percent of the buying-in shares.
The above-mentioned data also shows that there were still a few investors blindly going with the wind of rise on the first trading day of the two nee stocks; therefore, the SZSE again calls for the widespread investors, specially small-medium investors, to fully know the speculation risk on the first trading day of any IPO stock, make the rational investment decision and never blindly follow the herd of speculation.