Feb. 28, 2007 (China Knowledge) – Shares of Liuzhou Iron & Steel <601003> jumped as much as 74% on their trading debut in Shanghai Tuesday, bucking a decline in the Mainland stock market.

On its trading debut, the Guangxi-based steelmaker, which raised RMB 1.08 billion from its IPO, climbed to RMB 17.5 before closing at RMB 16.46, up 63.62% from the offer price of RMB 10.06.  Demand for Liuzhou’s shares, however, declined on Wednesday, opening at RMB 15.

Shares in other steelmakers fell as Mainland stocks tumbled the most in 10 years on concern the government will crack down on illegal investments. The Shanghai Composite Index declined 268.81 points or 8.84% to 2,771.79 Tuesday.