Mainland China share market finished session higher on Monday, 27 June 2022, as risk sentiments supported on expectation of a economic recovery after Chinese President Xi Jinping pledged to take more effective measures to achieve the countrys economic and social development goals. Adding to the positive sentiment was data showing profits across Chinas industrial firms above designated size improved in May from the previous month. At close of trade, the benchmark Shanghai Composite Index advanced 0.88%, or 29.44 points, to 3,379.19. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 1.11%, or 24.32 points, to 2,216.98. The blue-chip CSI300 index grew 1.13%, or 49.50 points, to 4,444.27. CURRENCY NEWS: Chinas yuan edged up against the U.S. dollar on Monday after firmer mid-point fixing by central bank. Prior to market opening, the Peoples Bank of China (PBOC) set the midpoint rate CNY=PBOC at 6.6850 per dollar, 150 pips or 0.22 percent firmer than the previous fixing of 6.7. In the spot market, onshore yuan CNY=CFXS opened at 6.6890 per dollar and was changing hands at 6.6876 at midday, 22 pips firmer than the previous late session close. Chinas central bank made the biggest daily cash injection into the banking system via open market operations in nearly three months on Monday, to ease pressure from rising cash demand toward the end of the first half of the year. The Peoples Bank of China injected 100 billion yuan ($14.95 billion) worth of seven-day reverse repos, the biggest daily injection via the liquidity tool since March 31. Powered by Capital Market – Live News
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.