China Stocks end mixed

Mainland China share market finished choppy session in mixed territory on Wednesday, 14 December 2022, as risk sentiments turned subdued after China's credit growth fell short of market expectations in November and ahead a Federal Reserve policy meeting. Meanwhile, the fast spread of COVID-19 infections had also dented sentiment.

The country's new yuan-denominated loans a key measure of credit growth totaled 1.21 trillion yuan ($173.3 billion) in November, up by 594.8 billion yuan compared with October but down by 59.6 billion yuan year-on-year, according to data from the People's Bank of China released on Tuesday.

At close of trade, the benchmark Shanghai Composite Index edged up 0.01%, or 0.20 point, to 3,176.53. The Shenzhen Composite Index, which tracks stocks on China's second exchange, sank 0.09%, or 1.77 points, to 2,048.61. The blue-chip CSI300 index was up 0.23%, or 9.21 points, to 3,954.89.

 

CURRENCY NEWS: The Chinese currency edged down against the U.S. dollar on Wednesday, despite firmer mid-point fixing by central bank. Prior to market opening, the People's Bank of China (PBOC) set the midpoint rate at a new three-month high of 6.9535 per dollar, 211 pips or 0.3% firmer than the previous fix of 6.9746. In the spot market, the onshore yuan opened at 6.9480 per dollar and was changing hands at 6.9618 at midday, 118 pips softer than the previous late session close.

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