At closing bell, the benchmark Shanghai Composite Index added 0.2%, or 5.97 points, to 2,921.40. The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.2%, or 3.71 points, to 1,846.66. The blue-chip CSI300 index rose 0.31%, or 12.23 points, to 3,983.57.
Market risk sentiment got a lift by central bank steps to help small businesses in China. The country's five largest banks were told to make loans more easily available and extend loan repayment deadlines. In addition, the central bank said it will offer lower rates and other measures to encourage financial institutions to extend loans to small businesses.
Sentiment also was buoyed after Beijing announced a plan to build Hainan province into a free-trade port by 2025. The government unveiled specific measures, including favourable tax treatment, and stressed free-duty characteristics of goods trading with the southern island.
Shares of liquor giant Kweichow Moutai slipped 0.6% to 1,410.71 yuan, after hitting an all-time high on Monday. The stock has seen a jaw-dropping 40% gain over the past 10 weeks, prompting US research giant Morningstar to warn it is way overpriced.
Hainan-based companies were top gainers on the mainland after Beijing announced a plan to build Hainan province into a free-trade port by 2025. Hainan Haide Industry and Hainan Dadonghai Tourism Centre surged to the daily limit of 10%.
CURRENCY NEWS: The yuan strengthened against the dollar on Friday, inline with firmer mid-point fixing by central bank. Prior to market opening, the People's Bank of China (PBOC) set the midpoint CNY=PBOC at 7.1167 per dollar, 0.2% firmer than previously. In the spot market, onshore yuan CNY=CFXS opened at 7.1140 per dollar and was changing hands at 7.1198 late afternoon, 92 pips firmer than the previous late session close.
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