(Yicai Global) May 18 -- Chinese chipmakers dominated the local stock markets when they opened higher this morning, after the US revealed a new rule to prevent other countries from sending chips to telecoms equipment giant Huawei.

The Shanghai Composite Index opened 0.14 percent higher at 2,872.52, while the Shenzhen Component Index started at 10,969.08, up 0.04 percent. The ChiNext Price Index, which tracks growth enterprises in Shenzhen, began down 0.09 percent at 2,122.31.

Shanghai-based Semiconductor Manufacturing International [HKG:0981], the largest chipmaker on the Chinese mainland, opened 3.34 percent higher at HKD19.70 (USD2.54). One of its major suppliers, L&K Engineering Suzhou [SHA:603929], hit the 10 percent daily up limit for the third straight trading day, opening at CNY18.48 (USD2.60).

Editor: James Boynton