Disclosed is a method for manufacturing an array substrate of a translucent LCD capable of simultaneously forming source and drain metal layers as reflective electrodes while improving both the contact resistance in a transmissive region and the reflectivity properties in a reflective region. The source and drain metal layers have a triple-layered structure of Mo--Al--Mo and, the top Mo is selectively removed from the reflective region. As a result, the screen quality of products improves. In addition, about 5-6 masks are enough to manufacture an array substrate using half-tone exposure technology, in contrast to the prior art which uses 8-11 masks. As the number of masks and processes is reduced in this manner, the manufacturing cost decreases accordingly and the process is simplified.