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January 21, 2020

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Pharma firms, mask vendors give stocks a boost

Major stock indexes closed higher yesterday while drug makers, mask vendors and semiconductor firms led the surge.

The benchmark Shanghai Composite Index edged up 0.66 percent to 3,095.75 points while the smaller Shenzhen Component Index advanced 1.47 percent to 11,115.88 points. The ChiNext Composite Index surged 2.57 percent to 1,982.18 points. Turnover on the Shanghai bourse increased to 271.12 billion yuan (US$38.73 billion) compared with 242.27 billion yuan on Friday.

Because of the new coronavirus found, medical and mask firms surged.

Jiangsu Sihuan Bioengineering, Shandong Lukang Pharmaceutical and Shenzhen Neptunus Bioengineering all surged by the 10 percent daily cap. Mask producers Tianjin Teda and Shanghai Dragon surged 9.89 percent and 10 percent.

Semiconductor firms also rose. Wingtech Technology, which helps smartphone brands develop new models, rose by the 10 percent daily cap to close at 121 yuan.


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