Biz / Tech

Shares rise, led by drug makers, mask vendors and semiconductor firms

Rich Zhu
Benchmark shares index edges up as drug makers, mask vendors and semiconductor firms lead the rise in share prices after news reports and ministry announcement. 
Rich Zhu

Major stock indexes closed higher on Monday while drug makers, mask vendors and semiconductor firms led the surge.

The benchmark Shanghai Composite Index edged up 0.66 percent to 3,095.75 points while the smaller Shenzhen Component Index advanced 1.47 percent to 11,115.88 points. The ChiNext Composite Index surged 2.57 percent to 1,982.18 points.

Turnover on the Shanghai bourse increased to 271.12 billion yuan (US$38.73 billion), compared with 242.27 billion yuan on Friday.

Hearing new suspected cases of the new coronavirus, related medical and mask firms surged on Monday. 

Jiangsu Sihuan Bioengineering, Shandong Lukang Pharmaceutical and Shenzhen Neptunus Bioengineering all surged by the 10 percent daily cap on Monday. 

Mask producers Tianjin Teda and Shanghai Dragon surged 9.89 percent and 10 percent, respectively.

Semiconductor firms also rose. The Ministry of the Industry and Information Technology said during a broadcast conference on Monday that it would support and strengthen China's own manufacturing and electronics ecosystem.  

Wingtech Technology, which helps smartphone brands develop new models, rose by the 10 percent daily cap to close at 121 yuan. 

UCloud, Chinese mainland’s first listed firm with dual share structure, surged almost 120 percent in its debut on the STAR Market.

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