(Yicai Global) April 8 -- Firms involved in rich communications services soared today despite China’s mainland markets slipping after major carriers said they would use RCS messaging for their fifth-generation networks.
Almost a dozen firms in the sector hit the 10 percent limit up, including Montnets Rongxin Technology Group [SHE:002123], Beijing Jiaxun Feihong Electrical [SHE:300213] and Beijing Ultrapower Software [SHE:300002].
The Shanghai Composite Index closed 0.19 percent lower at 2,815.37 while the Shenzhen Component Index finished at 10,386.55, down 0.41 percent. The ChiNext Price Index, which tracks growth enterprises in Shenzhen, ended down 0.25 percent at 1,964.76.
China’s big three telecoms carriers China Mobile, China Telecommunications and China United Network Communications Group all suggested replacing text messages with RCS messages for their 5G networks in a press conference today. Representatives from 11 companies, including Huawei Technologies, Xiaomi, Vivo, Oppo, ZTE and Samsung Electronics, attended the briefing.
Editor: James Boynton