China Market falls 0.3%

The Mainland China share market finished session lower on Thursday, 05 August 2021, as investors concerns over outbreaks of the highly contagious Delta variant in China and their potential impact on economic growth. Meanwhile, selloff pressure intensified amid fears new tightening measures after reports aim at the video game sector, calling for higher taxes on the industry.

At closing bell, the benchmark Shanghai Composite Index fell 0.31%, or 10.67 points, to 3,466.55. The Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 0.75%, or 18.58 points, to 2,447.04. The blue-chip CSI300 index was down 0.61%, or 30.18 points, to 4,948.67.

 

China has reimposed restrictions on movements after more than 500 cases linked to the highly infectious virus strain were reported in half of the nation's provinces. It limited train services and subway usages in at least 144 regions including Beijing to control the spread.

CURRENCY NEWS: China yuan edged down against the dollar on Thursday, after lower mid-point fixing by central bank. Prior to market opening, the People's Bank of China (PBOC) set the midpoint 36 pips weaker at 6.4691 against the U.S. dollar.

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