Disclosed is a semi-transmissive or reflective liquid crystal display with high image quality, which has high reflection efficiency. Specifically disclosed is a liquid crystal display comprising a reflective region for reflecting an incident light to the display surface. The reflective region comprises a metal layer, an insulating layer formed on the metal layer, a semiconductor layer formed on the insulating layer, and a reflective layer formed on the semiconductor layer. A plurality of recessed portions are formed in at least one of the metal layer, the insulating layer and the semiconductor layer, and a plurality of depressions corresponding to the recessed portion are formed in the reflective layer in the reflective region. The shortest distance (a) between the end portions of at least two of the recessed portions is set at not more than 4 [mu]m.