<p>[东京] 日本股市首次公开募股（IPO）表现不佳的情况已持续到六年最长，这再次显示出投资者情绪受到伊朗战争的影响。</p>
<p>J-Pharma 在首日交易中下跌了多达 22%，Basic 下跌了多达 8%，而当天日本股市基准指数与亚洲其他市场一起上涨。今年还有三家公司在开盘时的股价低于其首次公开募股（IPO）价格。上一次有超过五只新股在首日交易中下跌是在 2020 年 3 月。</p>
<p>由于伊朗战争使投资者变得更加规避风险，日本股市本月已进入技术性调整。根据彭博社汇编的数据，今年迄今为止，IPO 市场的交易数量仅为七笔，为 2011 年以来第一季度的最低水平。</p>
<p>“情绪变得相当糟糕，” GCI Asset Management 的高级投资组合经理池田高正表示，他本月已停止参与 IPO，因为在二级市场购买新上市股票看起来更为合理。</p>
<p>日本的 IPO 市场已被银行转向更大规模的交易所重塑，东京证券交易所提高了公司在其创业市场部分保持上市的门槛。这导致小规模交易的数量在去年降至 12 年来的最低水平。彭博社</p>

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<p>日本的首次公开募股（IPO）市场正经历自 2020 年以来最长的首日失利潮，包括 J-Pharma 和 Basic 在内的多家公司股价大幅下跌。这一趋势反映了由于伊朗持续战争而动摇的投资者情绪，导致日本股市出现技术性调整。今年的 IPO 数量也有所减少，仅有七笔交易定价，为 2011 年以来的最低水平。投资组合经理变得更加谨慎，选择投资二级市场而非新上市公司</p>

<p>[TOKYO] Japan’s run of struggling stock market debuts has stretched to the longest in six years, another sign of investor sentiment being shaken by the war in Iran.</p>
<div class="lb-trans"><p>[东京] 日本股市首次公开募股（IPO）表现不佳的情况已持续到六年最长，这再次显示出投资者情绪受到伊朗战争的影响。</p>
</div><p>J-Pharma dropped as much as 22 per cent and Basic fell as much as 8 per cent on their first day of trading, on a day when Japan’s stock benchmarks advanced along with the rest of Asia. Three other companies this year also fell at the open compared with their initial public offering (IPO) prices. The last time more than five new shares sank on their debut was in March 2020.</p>
<div class="lb-trans"><p>J-Pharma 在首日交易中下跌了多达 22%，Basic 下跌了多达 8%，而当天日本股市基准指数与亚洲其他市场一起上涨。今年还有三家公司在开盘时的股价低于其首次公开募股（IPO）价格。上一次有超过五只新股在首日交易中下跌是在 2020 年 3 月。</p>
</div><p>Japanese stocks had entered a technical correction this month as the war in Iran turned investors more risk averse. The same sentiment is amplified in the IPO market, with only seven deals priced so far this year, the fewest in any first quarter since 2011, according to Bloomberg-compiled data.</p>
<div class="lb-trans"><p>由于伊朗战争使投资者变得更加规避风险，日本股市本月已进入技术性调整。根据彭博社汇编的数据，今年迄今为止，IPO 市场的交易数量仅为七笔，为 2011 年以来第一季度的最低水平。</p>
</div><p>“The sentiment is getting pretty bad,” said Takamasa Ikeda, a senior portfolio manager at GCI Asset Management, who has stopped joining IPOs this month as buying newly listed shares in the secondary market looked more reasonable.</p>
<div class="lb-trans"><p>“情绪变得相当糟糕，” GCI Asset Management 的高级投资组合经理池田高正表示，他本月已停止参与 IPO，因为在二级市场购买新上市股票看起来更为合理。</p>
</div><p>Japan’s IPO market has been reshaped by banks turning to bigger deals and the Tokyo bourse raising the bar for companies to remain listed on its startup market section. That resulted in the number of tiny-sized deals decreasing to a 12-year low last year. BLOOMBERG</p>
<div class="lb-trans"><p>日本的 IPO 市场已被银行转向更大规模的交易所重塑，东京证券交易所提高了公司在其创业市场部分保持上市的门槛。这导致小规模交易的数量在去年降至 12 年来的最低水平。彭博社</p>
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Japan posts longest streak of first-day IPO flops since 2020

Businesstimes News

Change, Inc. (Japan)

Dream Incubator Inc.

JCR Pharmaceuticals Co., Ltd.

SecuAvail, Inc.

日本创下自 2020 年以来首次公开募股（IPO）首日表现不佳的最长连续记录