Chinese Stocks Climb at the Start, Led by RCS Messaging Firms
Dou Shicong
DATE:  Apr 09 2020
/ SOURCE:  Yicai

(Yicai Global) April 9 -- China's mainland stock markets opened higher this morning after yesterday's declines as the Rich Communication Services sector climbed for a second day, spurred by phone carriers' push to upgrade SMS messaging to the more advanced protocol.

The Shanghai Composite Index started 0.37 percent higher at 2,825.84. The Shenzhen Component Index was at 10,453.86, up 0.65 percent. The ChiNext Price Index, which tracks growth enterprises in Shenzhen, rose 0.84 percent to 1,981.24.

Several firms in the RCS sector jumped by the daily limit of 10 percent immediately. One of those was Ultrapower Software [SHE:300002] that reached the ceiling for the third day in a row. HyUnion Holding [SHE:002537] and Montnets Rongxin Technology Group [SHE:002123] were also in the group of gainers.

Editor: Emmi Laine

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Keywords:   Stock,RCS Messaging Firms