China's Nasdaq stocks plunge

Stocks traded on the ChiNext startup board in Shenzhen yesterday plunged after surging heavily on their Oct 30 debut.

The fall challenged the ability of regulators to control volatility on the new bourse. All but three of the 28 new stocks on ChiNext declined. Twenty dropped by their daily limits of 10 percent yesterday in the second day of trading.

Analysts said those stocks were overvalued.