China Stocks fall on profit booking

The Mainland China share market finished session lower on Wednesday, 02 June 2021, as profit booking resumed after rally in previous two consecutive sessions after reports of the latest coronavirus outbreak in China's most populous province of Guangdong, with shares in healthcare, securities, and information technology companies being notable losers.

At closing bell, the benchmark Shanghai Composite Index fell 0.76%, or 27.58 points, to 3,597.14. The Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 1.18%, or 28.68 points, to 2,400.90. The blue-chip CSI300 index declined 0.97%, or 51.71 points, to 5,289.97.

The best performing sectors in the Shanghai Stock Exchange were Computer & Electronic Equipment Dealer (up 6.43%), Oil & Gas Storage & Transportation (up 4.2%), Shoes (up 2.92%), Industrial Products Traders (up 2.51%), and Specialized Finance (up 2.5%), while the worst performing sectors were Health Care Technology (down 7.03%), Medical Devices (down 4.66%), Other Retail (down 4.19%), Health Care Facilities (down 3.83%), and Consumer Electronics (down 3.71%).

 

The best performing sectors in the Shenzhen Stock Exchange were Soft Drinks (up 96.33%), Oil & Gas Equipment & Services (up 3.14%), Motorcycle (up 2.99%), Logistics (up 2.96%), and Livestock Products (up 2.52%), while the worst performing sectors were General Merchandise Stores (down 9%), Personal Products (down 5.8%), Personal Products (down 4.91%), Specialized Finance (down 4.74%), and Pharmaceutical & Biotechnology Services (down 3.67%).

The best performing blue chip stocks of the CSI300 index was Muyuan Foodstuff Co (up 1.55%), while the worst performing blue chip stocks were Jiangsu Hengrui Medicine Co (down 3.08%), Kweichow Moutai Co (down 2.53%), China Tourism Group Duty Free Corp (down 2.28%), Chongqing Zhifei Biological Products Co (down 2.1%), Wuliangye Yibin Co (down 2%), Hangzhou Hikvision Digital Technology Co (down 1.84%), Jiangsu Yanghe Brewery Joint-Stock Co (down 1.7%), East Money Information Co (down 1.58%), and COSCO SHIPPING Holdings Co (down 1.43%).

CURRENCY NEWS: China yuan edged down against the dollar on Wednesday after weaker mid-point fixing by central bank. Prior to market opening, the PBOC set the midpoint rate CNY=PBOC at 6.3773 per dollar, 201 pips or 0.32% weaker than the previous fix of 6.3572. The spot yuan CNY=CFXS opened at 6.3805 per dollar and was changing hands at 6.3825 late afternoon, 0.03% weaker than the previous late session close of 6.3842.

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