At closing bell, the benchmark Shanghai Composite Index edged up 0.04%, or 1.31 points, to 3,373.28. The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.12%, or 2.62 points, to 2,253.43. The blue-chip CSI300 index was down 0.04%, or 2.18 points, to 4,940.52.
Chinese banks extended 1.43 trillion yuan ($218.96 billion) in new yuan loans in November, up from from 689.8 billion yuan in October, data from the People's Bank of China (PBOC) showed on Wednesday. Banks doled out 18.38 trillion yuan in new loans in the first 11 months, on course to set a new annual record after extending 16.81 trillion yuan in 2019. Broad M2 money supply in November grew 10.7% from a year earlier, quickening from a 10.5% rise in October. Outstanding yuan loans grew 12.8% from a year earlier, easing from a 12.9% rise in October.
S&P Dow Jones Indices said it would remove 21 Chinese companies from its global stock and bond benchmarks after the Trump administration accused the companies of having ties to the Chinese military and barred US investors from trading or owning their securities. The index provider, an arm of S&P Global, said it would remove 10 companies, including surveillance camera maker Hangzhou Hikvision, supercomputer manufacturer Dawning Information (also known as Sugon), and Semiconductor Manufacturing International Corporation (SMIC), from more than four dozen of its equity indices beginning on December 21. The firm will also remove securities issued by an additional 11 blacklisted companies from its fixed income benchmarks beginning on January 1, it said in a statement late Wednesday.
Meanwhile, concerns over stalled talks in the United States on its delayed stimulus package to address the economic fallout from the coronavirus pandemic, which has battered the U.S. economy, also weighed on investors sentiments.
Investors were also closely eyeing a number of upcoming events in Europe, including UK-EU trade talks, with British Prime Minister Boris Johnson and the European Union's chief executive agreeing to conclude talks on a new trade pact by the end of the week, and the European Central Bank's policy meeting.
CURRENCY NEWS: China's yuan weakened to a one-week low against the dollar as the central bank set a softer midpoint. The People's Bank of China set the midpoint rate CNY=PBOC at 6.5476 per dollar prior to market open, 0.25% softer than the previous fix of 6.5311. The spot market CNY=CFXS was changing hands at 6.5413, 0.06% lower than the previous late session close.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
