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Closing Bell (June 3, 2020)

By:

Sales Trader, International Business Division

MARKET

In the PM session, market increased slightly, but close to market end, dropped back to yesterday closing level. Till market closed, Automobile and Textile led the gain. Agriculture and Non-Ferrous Metal led the fall. In total, both markets traded 777.81 billion RMB, up 0.74% dod.

OpenClose% Change(bn yuan)
Shanghai2930.392923.370.07300.45
Shenzhen11154.6411108.36-0.04477.36
CSI 3004001.173983.650200.88
ChiNext2151.52143.12-0.1153.13
SectorTop 1Led byTop 2Led by
Upward-leadingAutomobile603129Textile002494
Downward-leadingAgriculture002604Non-Ferrous Metal600768

NEWS

*Chinese Chipmaker SMIC Eyes $2.8 Billion From Shanghai Listing

Chinese contract chipmaker Semiconductor Manufacturing International Corp. (SMIC) has filed for a listing on Shanghai’s Nasdaq-style high-tech STAR Market, hoping to raise 20 billion yuan ($2.8 billion), according to a stock filing on the bourse’s website.

*Wuhan Declared Free of Virus After Blanket Testing of 10 Million

Officials in Wuhan declared the city safe as a blanket testing campaign covering the entire population of 10 million found no confirmed infections, indicating that the deadly coronavirus may have been eradicated from the pandemic’s first epicenter.

*Race for 6G: South Korea and China Off to Early Leads

As fifth-generation wireless networks start to go mainstream, competition to develop 6G has begun, with Samsung Electronics and Huawei Technologies at the forefront, especially in the base stations that will form the backbone of future networks.

*Huawei Snubbed by Canadian Firms Ahead of Trudeau’s Crucial 5G Call

Two major Canadian wireless companies said they will build out their next-generation 5G wireless networks with equipment from European providers, sidelining China’s Huawei Technologies Co.

FUND FLOW

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