Semiconductor firms leading market gains

China stocks closed generally flat on Friday, with semiconductor companies leading the gains while the baijiu (distilled liquor) sector was weak.

The benchmark Shanghai Composite Index dipped 0.07 percent to end at 2,868.46 points, while the smaller Shenzhen Component Index edged up 0.02 percent to 10,964.89 points.

The ChiNext Composite Index, meanwhile, rose 0.31 percent to 2,124.31 points, and the blue chip CSI300 Index closed 0.32 percent lower at 3,912.82 points.

Turnover on the two major bourses added up to 627.1 billion yuan (US$88.26 billion), expanding from the 610.1 billion yuan in the previous session.

Overseas capital poured into the Chinese mainland on Friday, posting a net influx of 1.19 billion yuan via the Stock Connect schemes linking Shanghai and Shenzhen with Hong Kong.

Stocks of around 65 listed companies surged by over 9 percent, while six declined by the same.

Semiconductor firms performed strongly, with JiLin Sino-Microelectronics Co, SG Micro Corp and Beijing Xiaocheng Technology Stock Co all surging to hit the daily limit of 10 percent.

The agriculture, forestry, husbandry and fishery sector rebounded. Xinjiang Western Animal Husbandry Co, Xinjiang Korla Pear Co and Great-Sun Foods Co all soared by the 10 percent cap.

Baijiu shares, however, led the drop, with Beijing Shunxin Agriculture Co, Jiangsu Yanghe Brewery Joint-Stock Co and Hebei Hengshui Laobaigan Liquor Co all shedding over 2 percent.

Precious metal shares and cosmetics companies also posted gains, while airports and the medical and health-care sector fell.

Among the 102 firms on the STAR Market, 79 companies closed higher, two remained flat, while the rest retreated. Hangzhou Raycloud Technology Co gained the most by the daily maximum of 20 percent, while Hangzhou Raycloud Technology Co lost 5.09 percent to become the biggest decliner.

For the week, the Shanghai Composite Index retreated 0.93 percent, reversing the previous week’s gain of 1.23 percent. Total trade volume in the Shanghai exchange expanded to 1,218.49 billion yuan from 849.06 billion.