China Stocks end tad higher

The Mainland China share market finished lackluster trade marginal up on Thursday, 24 June 2021, as risk sentiments were muted amid Sino-US tensions after Biden administration ordered a ban on U.S. imports of a key solar panel material from Chinese-based Hoshine Silicon Industry Co over forced labour allegations.

Sectors were mixed, with gains in consumer and new energy stocks were offset by losses in healthcare stocks after reports that average price cut was 56% among the 251 products for 61 types of medicines.

At closing bell, the benchmark Shanghai Composite Index was up 0.01%, or 0.43 point, to 3,566.65. The Shenzhen Composite Index, which tracks stocks on China's second exchange, fell 0.5%, or 12.02 points, to 2,415.36. The blue-chip CSI300 index advanced 0.17%, or 8.58 points, to 5,15.97.

 

CURRENCY NEWS: China yuan declined against the dollar on Wednesday after weaker mid-point fixing by central bank. Prior to the market opening, the People's Bank of China (PBOC) set the midpoint rate CNY=PBOC at 6.4824 per dollar, weaker by 0.31% from the previous fix of 6.4621. In the spot market, onshore yuan CNY=CFXS was at 6.4804, down by 0.09% from the previous late session close.

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