In the PM session, Shanghai Index continued fluctuate around Friday Closing level, but Shenzhen Index fluctuated below that level. Till market end, Food & Beverage and Coal led the gain. Communication and Electronic led the fall. In total, both markets traded 490.63 billion RMB, down 17.22% dod.
|Open||Close||% Change||(bn yuan)|
|Sector||Top 1||Led by||Top 2||Led by|
|Upward-leading||Food & Beverage||002770||Coal||601001|
*China ‘Unlikely’ to Reach Goal of 70% Self-Sufficiency in Chip Production, Report Says
China may fail to achieve the target of domestically manufacturing 70% of its semiconductors under the “Made in China 2025” industrial modernization strategy, according to a report by U.S. market research firm IC Insights.
*China’s $941 Billion Sovereign Fund Seeks More Resilient Assets
China Investment Corp. is looking for more resilient assets in markets battered by the coronavirus pandemic as the nation’s $941 billion sovereign wealth fund seeks to boost long-term returns, Executive Vice President Zhao Haiying said.
*China forecast to have 150 million 5G subscribers by end of 2020
China expected to have about 150 million 5G mobile subscribers by the end of this year, as the nation scrambles to accelerate construction of new infrastructure, including 5G base stations, a national legislator and renowned telecom expert said.
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