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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Semiconductor Manufacturing International Corporation    981   KYG8020E1199

SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION

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Asian shares perk up on China gains, virus woes linger

10/15/2020 | 10:39pm EST

* Asian stock markets: https://tmsnrt.rs/2zpUAr4

* Sentiment cautious as coronavirus makes a comeback

* Investors cheer Chinese shares for earnings outlook

* Risk aversion boosts dollar and yen

TOKYO/NEW YORK Oct 16 (Reuters) - Asian stocks edged higher on Friday, buoyed by gains in China, but the mood was cautious due to a resurgence of coronavirus infections in Europe and the United States.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.27%. U.S. stock futures also gained 0.32%.

Shares in China rose 0.39% as investors snapped up banking shares due to an improving earnings outlook.

Australian stocks erased early losses to trade flat. Japanese stocks edged 0.05% higher, but South Korean shares lost 0.32%.

Oil futures extended declines in Asian trade as another round of lockdowns to contain the spread of the coronavirus threatens to further weaken global energy demand.

U.S. President Donald Trump's offer on Thursday to raise the size of a fiscal stimulus package to win the support of Republicans and Democrats helped narrow Wall Street losses, though many investors still believe a deal is unlikely before the Nov. 3 election.

"There's a bit of worry there and also at what we're seeing in America and in Europe regarding the virus and how it seems to be taking hold pretty significantly again," said Grant Williamson, investment adviser at Hamilton Hindin Greene in Christchurch, New Zealand.

On Wall Street, the Dow Jones Industrial Average fell 0.07%, the S&P 500 0.15% and the Nasdaq Composite dropped 0.47%.

An unexpected rise in U.S. weekly jobless claims figures added to worries about a sputtering world economy, especially in the face of a spike in COVID-19 cases in Europe.

The dollar index stood at 93.78, close to a two-week high as signs of a stalling U.S. economy drove safe-harbour flows into the greenback.

The one currency that the dollar fell against was the yen, which strengthened 0.15% to 105.31 per dollar given the Japanese currency is also seen as a haven.

The euro was down 0.01% to $1.1709, while a firmer U.S. dollar dragged on sterling, which was last trading at $1.2900, down 0.12% on the day.

Spot gold was little changed at $1,908.40 an ounce.

The coronavirus outbreak originated in China last year, but Beijing's aggressive efforts to control the virus mean its economy is recovering faster than other major countries, which suggests an improvement in corporate earnings.

Hong Kong shares in Semiconductor International Manufacturing Corp (SMIC) rose 2.53% on Friday after China's top chipmaker raised revenue and gross margin forecasts for the third quarter.

In contrast, many European countries have resumed lockdowns, and London will enter a tighter COVID-19 lockdown from midnight on Friday as Prime Minister Boris Johnson seeks to tackle a swiftly accelerating second coronavirus wave.

The European Union put the onus on Britain to compromise on their new economic partnership or stand ready for trade disruptions in less than 80 days, another negative for sterling.

The Australian dollar fell 0.2% versus the greenback at $0.7094, hurt by a decline in commodities. Oil prices were weighed by concerns about the coronavirus and its impact on the world economy. Brent crude futures fell 0.6% to $42.90 a barrel, while U.S. crude futures slipped by 0.44% to $40.77 a barrel.

Traders' preference for safety helped government bonds. The yield on U.S. Treasuries Benchmark 10-year notes held steady at 0.7339%, while the two-year yield edged lower to 0.1390%.

(Reporting by Suzanne Barlyn; Editing by Sam Holmes)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / CANADIAN DOLLAR (AUD/CAD) -0.06% 0.95817 Delayed Quote.5.22%
AUSTRALIAN DOLLAR / JAPANESE YEN (AUD/JPY) -0.08% 76.843 Delayed Quote.0.60%
AUSTRALIAN DOLLAR / NEW ZEALAND DOLLAR (AUD/NZD) 0.06% 1.05103 Delayed Quote.0.69%
AUSTRALIAN DOLLAR / SWISS FRANC (AUD/CHF) 0.05% 0.66733 Delayed Quote.-1.64%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.08% 0.738 Delayed Quote.4.86%
BRITISH POUND / AUSTRALIAN DOLLAR (GBP/AUD) 0.02% 1.803 Delayed Quote.-3.97%
BRITISH POUND / JAPANESE YEN (GBP/JPY) -0.05% 138.556 Delayed Quote.-3.42%
CANADIAN DOLLAR / JAPANESE YEN (CAD/JPY) -0.02% 80.094 Delayed Quote.-4.31%
DJ INDUSTRIAL 0.13% 29910.37 Delayed Quote.4.67%
EURO / AUSTRALIAN DOLLAR (EUR/AUD) 0.07% 1.62022 Delayed Quote.1.33%
EURO / JAPANESE YEN (EUR/JPY) -0.01% 124.547 Delayed Quote.1.92%
EURO / US DOLLAR (EUR/USD) 0.00% 1.1963 Delayed Quote.6.23%
JAPANESE YEN / SWISS FRANC (JPY/CHF) 0.13% 0.8689 Delayed Quote.-2.46%
LONDON BRENT OIL 1.13% 48.24 Delayed Quote.-27.73%
NASDAQ 100 0.87% 12258.211779 Delayed Quote.40.37%
NASDAQ COMP. 0.92% 12205.846315 Delayed Quote.34.79%
NEW ZEALAND DOLLAR / JAPANESE YEN (NZD/JPY) 0.17% 73.132 Delayed Quote.-0.07%
S&P 500 0.24% 3638.35 Delayed Quote.12.62%
SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION 0.68% 22.05 End-of-day quote.84.67%
US DOLLAR / JAPANESE YEN (USD/JPY) -0.01% 104.07 Delayed Quote.-4.09%
WTI 1.29% 45.54 Delayed Quote.-26.73%
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Financials (USD)
Sales 2020 3 838 M - -
Net income 2020 520 M - -
Net cash 2020 2 298 M - -
P/E ratio 2020 40,7x
Yield 2020 -
Capitalization 22 105 M 22 105 M -
EV / Sales 2020 5,16x
EV / Sales 2021 5,03x
Nbr of Employees 15 904
Free-Float 82,6%
Chart SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION
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Technical analysis trends SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 24
Average target price 2,60 $
Last Close Price 2,87 $
Spread / Highest target 34,8%
Spread / Average Target -9,42%
Spread / Lowest Target -38,9%
EPS Revisions
Managers
NameTitle
Hai Jun Zhao Co-Chief Executive Officer & Executive Director
Meng Song Liang Co-Chief Executive Officer & Executive Director
Zi Xue Zhou Chairman
Xin Zhang Senior Vice President-Operations & Engineering
Yong Gang Gao CFO, Executive Director & Executive Vic President