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Electronics shares jump
By Zhu Shenshen |
September 18, 2009, Friday
|
Print Edition
Print Edition
CHINESE electronics shares surged yesterday on expectations that development of the new "Internet of Things" technology will revolutionize homes and businesses.
What's got the market buzzing are visions of clothes embedded with microchips that talk to washing machines and long supermarket lines vanishing as consumers pay for goods via chips that automatically debit their bank accounts.
The technology, supported by the Ministry of Industry and Information Technology, will boost demand for chips, telecommunications equipment and electronics components like sensors and connectors, analysts said.
"It's like the Internet boom in the domestic market in 1998," said Qin Hong, an analyst of Jinbailing Consulting, a Wuxi-based investment consulting firm. "People like high-tech shares and investors will continue to push the price higher."
Shanghai-based SVA Information Industry Co, semiconductor maker Shanghai Belling Co and telecommunications firms Datang Telecom Technology and Ningbo Bird Co were among about 10 electronics companies that hit the stock market 10 percent daily cap for second day.
China will support the development of the "Internet of Things," which will be used in industries like logistics and retail, Zhu Hongren, a spokesperson of ministry, said at the end of last month.
The system, which utilizes microchip, radio transmitters and electronic connectors, is being developed in research and development centers of companies across China.
China Mobile, the world's biggest mobile carrier, said it will expand into the sector and combine the new technology with its network.
What's got the market buzzing are visions of clothes embedded with microchips that talk to washing machines and long supermarket lines vanishing as consumers pay for goods via chips that automatically debit their bank accounts.
The technology, supported by the Ministry of Industry and Information Technology, will boost demand for chips, telecommunications equipment and electronics components like sensors and connectors, analysts said.
"It's like the Internet boom in the domestic market in 1998," said Qin Hong, an analyst of Jinbailing Consulting, a Wuxi-based investment consulting firm. "People like high-tech shares and investors will continue to push the price higher."
Shanghai-based SVA Information Industry Co, semiconductor maker Shanghai Belling Co and telecommunications firms Datang Telecom Technology and Ningbo Bird Co were among about 10 electronics companies that hit the stock market 10 percent daily cap for second day.
China will support the development of the "Internet of Things," which will be used in industries like logistics and retail, Zhu Hongren, a spokesperson of ministry, said at the end of last month.
The system, which utilizes microchip, radio transmitters and electronic connectors, is being developed in research and development centers of companies across China.
China Mobile, the world's biggest mobile carrier, said it will expand into the sector and combine the new technology with its network.
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