China Market ends higher

The Mainland China share market finished session higher on Tuesday, 11 May 2021, as the National Bureau of Statistics data showed that factory-gate prices in the world's second-largest economy last month had reached the highest level since October 2017.

At closing bell, the benchmark Shanghai Composite Index was up 0.4%, or 13.85 points, to 3,441.85. The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.36%, or 8.03 points, to 2,251.96. The blue-chip CSI300 index added 0.61%, or 30.64 points, to 5,023.06.

ECONOMIC NEWS: China Consumer Prices Up 0.9% On Year In April- China overall consumer prices were up 0.9 percent on year in April, the National Bureau of Statistics said on Tuesday, up from 0.4 percent in March. On a monthly basis, consumer prices fell 0.3 percent following the 0.5 percent decline in the previous month. In contrast, producer price index (PPI), a gauge of industrial profitability, in April jumped to 6.8%YoY up from 4.4%YoY in March. The country's gross domestic product (GDP) expanded by a record 18.3% in annual terms in the first quarter as the country recovers from the devastating impact of Covid-19.

 

CURRENCY NEWS: China yuan appreciated against the dollar on Tuesday, inline with softer mid-point fixing by central bank. Prior to market opening, the People's Bank of China (PBOC) fixed the midpoint rate CNY=PBOC at 6.4425 per dollar, 253 pips firmer than the previous fix of 6.4678.

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