China on Thursday unveiled a new list of import tariff exemptions for six chemical and oil products from the United States, days after the world's two largest economies announced the initial trade deal. Market participants paid close attention to Chinese President Xi Jinping's remarks on Hong Kong amid anti-government protests in the Asian financial hub. Xi said on Friday China would never allow foreign forces to interfere with its special regions of Hong Kong and Macau, as he swore in a new pro-Beijing government for the gambling hub of Macau.
Investors were watchful on further supportive measures from the government and central bank that could stimulate China's slowing economy, as its third quarter GDP growth slowed to 6 per cent, the slowest in almost three decades.
China on Friday left its new lending benchmark - the loan prime rate - unchanged, as expected, after it kept rates of medium-term loans steady earlier this month.
Tech stocks weighed on the mainland indexes Friday. Universal Scientific Industrial (Shanghai) dropped 9.5 per cent to 20.36 yuan, while Wuxi AppTec lost 1.9 per cent to 92.5 yuan. ZTE lost 3.3 per cent to 33.37 yuan; and Shenzhen Mindray Bio-Medical Electronics lost 1.8 per cent to 176.05 yuan.
CURRENCY NEWS: China's yuan eases against the dollar after the People's Bank of China (PBOC) set lower mid-point rate. Prior to market opening, the People's Bank of China (PBOC) set the midpoint rate CNY=PBOC at 7.002 per dollar, 0.01% up than the previous fix of 7.0025. In the spot market, onshore yuan CNY=CFXS was changing hands at 7.008, stronger by 0.03% than the previous late session close at 7.01.
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