The US Senates Homeland Security and Governmental Affairs Committee on Wednesday advanced a bill that proposes to prohibit federal contracting with certain biotechnology providers connected to foreign adversaries.
At close of trade, the benchmark Shanghai Composite index declined 0.41%, or 12.53 points, to 3,027.40. The Shenzhen Composite Index, which tracks stocks on China's second exchange, fell 1.2%, or 20.61 points, to 1,701.44. The blue-chip CSI300 index fell 0.6%, or 21.33 points, to 3,529.72.
ECONOMIC NEWS: China's Exports Growth Accelerates By 7.1% In Jan-Feb- China's exports grew at a faster pace in the first two months of 2024, official data revealed on Thursday. Exports registered an annual increase of 7.1% in January to February period after expanding 2.3% in December. Likewise, the increase in imports advanced to 3.5% from 0.2%. The trade balance showed a surplus of $125.16 billion in January to February period.
CURRENCY NEWS: China's yuan was tad lower against the dollar on Thursday, despite firmer midpoint fixing. Prior to the market's opening, the People's Bank of China set the midpoint rate at 7.1002 per U.S. dollar, 0.02% firmer from the previous fix 7.1016. In the spot market, the onshore yuan CNY=CFXS yuan was changing hands at 7.1986 at midday, 15 pips weaker than the previous late session close.
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