China Market ends 0.52% higher

The Mainland China share market finished higher in light trade on Friday, 02 April 2021, following another record day on Wall Street overnight on optimism about a US economic recovery increased following strong US factory data for March and President Joe Biden's $2 trillion plan to rebuild infrastructure. However, market gains capped du to holiday across the region for the Good Friday.

At closing bell, the benchmark Shanghai Composite Index added 0.52%, or 18.06 points, to 3,484.39. The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.89%, or 19.89 points, to 2,262.08. The blue-chip CSI300 index grew 1%, or 50.78 points, to 5,161.56.

 

CURRENCY NEWS: China's yuan appreciated against the dollar on Friday despite weaker mid-point fixing by the central bank. Prior to market opening, the People's Bank of China (PBOC) set the midpoint rate at 6.5649 per dollar, 65 pips or 0.1% weaker than the previous fix of 6.5584. In the spot market, onshore yuan opened at 6.5661 per dollar and was changing hands at 6.5625 at midday, 30 pips firmer than the previous late session close.

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