(Yicai Global) Nov.23 -- Chinese mainland stock markets opened higher this morning, with ferrous metal smelting and distillers outperforming.

The Shanghai Composite Index set out 0.19 percent higher at 3,384.10. The Shenzhen Component Index started at 13,871.71, up 0.14 percent and the ChiNext Price Index, which tracks growth enterprises listed in Shenzhen, rose 0.38 percent to 2,677.35.

The market is still in an upward arc, an analysis by Essence Securities concludes. As Covid-19 vaccines become available and China's recovery gathers steam, procyclical sectors are set to become the market focus. They include the auto, liquor, steel, coal, chemicals and machinery sectors.

Editor: Ben Armour