At closing bell, the benchmark Shanghai Composite Index advanced 0.73%, or 25.72 points, to 3,528.68. The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 1.5%, or 35.80 points, to 2,422.34. The blue-chip CSI300 index rose 1.91%, or 100.78 points, to 5,368.50.
The New York Stock Exchange reversed its decision to delist their American depositary receipts after announcing on the eve of New Year a decision to remove the ADRs issued by the Chinese telecom companies - China Telecom, China Mobile and China Unicom from as soon this week to comply with President Donald Trump's executive order.
CURRENCY NEWS: China's yuan was virtually flat against the dollar despite the central bank set a stronger midpoint. Prior to market opening, the People's Bank of China (PBOC) set the midpoint rate CNY=PBOC at 6.476 per dollar, 1% stronger than the previous fix of 6.5408. It was the biggest one-day lift in the yuan midpoint since China abandoned a decade-old peg against the dollar in 2005, and the strongest official guidance in more than 30 months. Spurred on by the fixing, spot yuan CNY=CFXS opened at 6.4601 per dollar and jumped to 6.4292 in the morning session, its strongest since June 15, 2018. Its offshore counterpart surged more than 0.6% to break through the 6.42 level and touch 6.4127 per dollar, also its firmest since mid-June 2018.
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