Semiconductor industry leads market gains
China’s main equity indexes closed mixed on Monday, with semiconductor industry leading the gains.
At close, the benchmark Shanghai Composite Index edged down 0.08 percent to 2,965.27 points, while the smaller Shenzhen Component Index was up 0.29 percent to 11,702.44 points.
The blue chip CSI300 Index advanced 0.08 percent to 4102.05 points and the ChiNext Composite Index startup board surged 1.54 percent to 2,342.88 points.
Chinese mainland markets saw a net inflow of 3.79 billion yuan in overseas capital via Stock Connect schemes linking Shanghai and Shenzhen with Hong Kong.
Turnover on the two major bourses expanded to 828.6 billion yuan (US$116.79 billion).
The semiconductor industry was among the biggest gainers of the day, with shares in the sector rising by an average of 2.98 percent.
Seven companies in the semiconductor sector hit the daily limit of 10 percent. Huate Gas Co Ltd, listed on the STAR Market where the daily limit is 20 percent, soared over 11 percent to 89.30 yuan per share.
This was boosted by the China Securities Regulatory Commission’s support of the semiconductor industry, with Fang Xinghai, vice chairman of the commission, saying that more major semiconductor enterprises will be listed on the STAR Market.
Currently, 14 semiconductor companies are listed on the STAR Market out of its total of 125.
Semiconductor Manufacturing International Corp, China’s most advanced and largest semiconductor manufacturer, made a record in listing on the STAR Market in just 19 days last week.