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Closing Bell (June 1 2020)

By:

Sales Trader, International Business Division

MARKET

In the PM session, market was stable at high level. Till market closed, Electronic and Communication led the gain. NO Section led the fall. In total, both markets traded 761.59 billion RMB, up 33.08% dod.

OpenClose% Change(bn yuan)
Shanghai2871.962915.432.21307.42
Shenzhen10837.4911102.153.31454.17
CSI 3003901.733971.342.7208.44
ChiNext2105.242158.223.43156.43
SectorTop 1Led byTop 2Led by
Upward-leadingElectronic688123Communication002583
Downward-leading    

NEWS

*Xiaomi Maintains Lead in India’s Smartphone Market, But Chinese Peers Catch Up

Four Chinese firms made up India’s top five smartphone vendors in the first quarter of 2020, according to research firm CyberMedia Research (CMR). Although Xiaomi maintained its top spot, other Chinese companies showed signs of catching up, with Realme more than doubling its market share.

*China’s Solar Giants Slash Prices as Virus Curbs Demand

The Chinese manufacturers that dominate nearly every step in the global solar power supply chain are being forced to slash prices as the coronavirus disrupts projects around the world. Costs for components like wafers and cells have fallen by as much as 20% since the start of the year. They likely haven’t bottomed out yet, either, as the outlook for demand remains uncertain and new mega-factories threatens to add supply.

*HSBC said in an emailed statement that its Chinese subsidiary launched the Qualified Domestic Limited Partnership (QDLP) program on Monday. The bank became the first international bank to sell QDLP asset management plans to qualified high net worth investors in Mainland China.

FUND FLOW

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