SHANGHAI :
Semiconductors Lead China's Mainland Stock Markets to Mixed Open
Dou Shicong
DATE:  Oct 16 2020
/ SOURCE:  Yicai
Semiconductors Lead China's Mainland Stock Markets to Mixed Open Semiconductors Lead China's Mainland Stock Markets to Mixed Open

(Yicai Global) Oct. 16 -- China's mainland stock markets opened in a jumble this morning. Semiconductor industry shares led the pack as major player Semiconductor Manufacturing International Corp raised its revenue projection for the third quarter.

The Shanghai Composite Index started 0.07 percent higher at 3,334.46. The Shenzhen Component Index stood at 13,611.91, down 0.1 percent, and the ChiNext Price Index, which tracks growth enterprises listed in Shenzhen, dropped 0.08 percent to 2,735.68.

SMIC [SHA:688981] opened at 3.84 percent to CNY59.5 after the company raised its estimated revenue growth from 1-3 percent to 14-16 percent for the third quarter yesterday, attributing this to a shift in its product portfolio and the growth of its alternative businesses.

SMIC suppliers also opened higher, including Shanghai-based PNC Process Systems [SHA:603690], a semiconductor cleaning services provider, which set out 1.32 percent higher at CNY37.50 (USD5.58).

Editor: Ben Armour

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