China South Locomotive & Rolling Stock made one of this year’s most successful Chinese stock debuts on Monday with its shares jumping up to 83 per cent in spite of the broader Shanghai market falling to a 19-month low.

The train builder raised $1.5bn in its dual listing in Shanghai and Hong Kong in the biggest offering on the two stock markets since March, although it was scaled down from its original target of $2.1bn announced in April. The Hong Kong debut will be on Thursday