Shanghai Composite rebounds 1.2%, CXMT closes 5.7 times IPO price on debut

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The Shanghai Composite Index rebounded on Monday, the 27th, closing 1.15% higher at 3,858.25 points. Crude oil prices fell on hopes for a resumption of US-Iran peace talks, easing investors' risk-off stance. Policy expectations ahead of the Chinese Communist Party's Politburo meeting scheduled within the month also provided support. Among individual stocks, major DRAM maker ChangXin Memory Technologies made its debut on Shanghai's STAR Market, with its closing price reaching 49.00 yuan, a 465.8% surge from its IPO price of 8.66 yuan.

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