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GUOSEN Closing Bell (May 8)

By:

Sales Trader, International Business Division

MARKET

In the PM session, market was stable, and fluctuated at high level. Till market end, Household Appliance and Computer led the gain. Agriculture led the fall. In total, both markets traded 687.47 billion RMB, up 3.03%.

OpenClose% Change(bn yuan)
Shanghai2882.712895.340.83276.56
Shenzhen10923.6111001.581.27410.90
CSI 30039433963.620.99190.30
ChiNext2117.872125.240.87133.02
SectorTop 1Led byTop 2Led by
Upward-leadingHousehold Appliance300279Computer603636
Downward-leadingAgriculture002505  

NEWS

*Tencent Doubles Down on AI Chips With New Cash Injection in Startup

Chinese tech giant Tencent has doubled down on efforts to expand its chipmaking ecosystem by taking part in a 700 million yuan ($98.7 million) fundraising round for a Shanghai-based tech startup.

*Huawei’s HiSilicon First Mainland Chipmaker to Break Top 10 in Global Sales

The unit grew its global sales by 54% year-on-year to $2.67 billion for the quarter, according to a report by IC Insights. But the surge was mostly down to parent Huawei, with more than 90% of sales for the period going to the world’s largest telecoms gear-maker, the report said.

*China Makes Biggest U.S. Pork Order of 2020 as Virus Hits Plants

China is ramping up imports of U.S. pork, going against the trend as America’s meat exports have slowed overall with sick employees limiting production at meatpacking plants.

FUND FLOW

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