At close of trade, the benchmark Shanghai Composite Index advanced 0.51%, or 15.56 points, to 3,089.26. The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.37%, or 7.21 points, to 1,975.61. The blue-chip CSI300 index was up 0.39%, or 14.93 points, to 3,871.63.
For the year, the Shanghai index fell nearly 15%, while the Shenzhen index tumbled 25%,as tough anti-COVID measures battered the world's second-largest economy and a wave of new infections clouds the outlook for recovery.
CURRENCY NEWS: The Chinese currency was up against the U.S. dollar on Friday, as China's central bank set a firmer midpoint rate. Prior to market opening, the People's Bank of China (PBOC) set the midpoint rate CNY=PBOC at 6.9646 per dollar, firmer than the previous fix 6.9793. The spot rate is allowed to trade with a range 2% above or below the official fixing on any given day. In the spot market, the onshore yuan CNY=CFXS was changing hands at 6.9585 at midday, 66 pips stronger than the previous late session close and -0.09% away from the midpoint.
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