Telecom Gear Makers, Mobile Game Developers Soar as China Stocks End Lower(Yicai Global) Dec. 29 -- Shares of ZTE and other telecom equipment makers gained along with mobile game developers as China’s mainland stock markets closed lower.
The Shanghai Composite Index fell 0.54 percent today to 3,379.04, while the Shenzhen Component Index lost 0.53 percent to 13,970.21. The ChiNext, which tracks growth enterprises traded in Shenzhen, dropped 1.05 percent to 2,813.00.
Manufacturers of fifth-generation network gear climbed an average 4.7 percent after Industry and Information Technology Minister Xiao Yaqing said China plans to nearly double its 5G network capacity next year.
Shenzhen-based ZTE [SHE: 000063] jumped by the daily exchange-imposed limit of 10 percent to CNY33.63 (USD5.15), as did Wuhan-based Fiberhome Telecommunication Technologies [SHA: 600498] to CNY23.90.
Mobile game developers added almost 4.4 percent on average.
