China’s Newly Listed Stocks Slide at Open; Shiji Digital Falls 30%

The uniform, limit-down opening for several recent listings points to a broad unwind of the first-day momentum that tends to define China's new-share trade, rather than trouble at any single issuer. The scale of the drops — one name pinned at its daily limit — matters because it tests how quickly post-listing enthusiasm can reverse once the initial bid fades. What is worth watching is whether the selling is confined to the newest cohort or spreads to more seasoned small caps, which would say more about overall risk appetite than the individual names do.