China Market ends tad higher

The Mainland China share market finished session marginally higher on Tuesday, 27 April 2021, as positivity from better than expected China's industrial firms profit data for March was offset by continued caution ahead of key policy meetings at home and abroad for more clues about policymakers' priorities.

At closing bell, the benchmark Shanghai Composite Index edged up 0.04%, or 1.45 points, to 3,442.61. The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.03%, or 0.62 points, to 2,281.93. The blue-chip CSI300 index added 0.26%, or 13.28 points, to 5,090.52.

Profits at China's industrial firms grew to 711.18 billion yuan ($109.66 billion) in March, up 92.3% from a year ago, as demand for raw materials surged along with the economic recovery, data from the National Bureau of Statistics (NBS) showed.

 

Many market participants were awaiting for the April politburo meeting, the top decision-making body of China's ruling Communist Party, for comments and guidance on policy deliberations.

Traders are also keeping a close watch on Fed's open-market committee meeting this week, in which chairman Jerome Powell is expected to reiterate the accommodative stance on monetary policies even as the world's biggest economy shows signs of a firm recovery.

Medical gloves maker Zhonghong Pulin Medical Products was the best performer, surging 149% from its initial public offering price to 120.90 yuan in Shenzhen.

Suwen Electric Energy Technology jumped 127% and Suzhou Weizhixiang Food gained 44%.

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