SHANGHAI :
RCS Firms Surge Again as Chinese Mainland Markets End Higher
Dou Shicong
DATE:  Apr 09 2020
/ SOURCE:  Yicai
RCS Firms Surge Again as Chinese Mainland Markets End Higher RCS Firms Surge Again as Chinese Mainland Markets End Higher

(Yicai Global) April 9 -- Firms engaged in rich communication services were the winners again in Chinese mainland markets today, surging for the second day in a row as the three major benchmarks ended higher.

The Shanghai Composite Index closed 0.37 percent higher at 2,825.90 while the Shenzhen Component Index finished at 10,463.05, up 0.74 percent. The ChiNext Price Index, which tracks growth enterprises in Shenzhen, ended 1.65 percent higher at 1,997.14.

The communication sector closed at nearly 3 percent higher with a dozen RCS firms reaching the 10 percent limit up, including Beijing Ultrapower Software [SHE:300002] and mobile communication carrier Montnets Rongxin Technology Group [SHE:002123].

China United Network Communications [SHA:600050], one of the big three state-owned carriers, also jumped 3.37 percent to CNY5.52 (78 Us cents) a share.

Editor: James Boynton

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Keywords:   Shanghai Composite Index,Shenzhen Component Index,ChiNext Price Index