China Market ends up

28 Jul 2022 , 06:16 PM

Mainland China share market finished session slightly above neutral line on Thursday, 28 July 2022, on the back of strong gains in property developers stocks after a reports that banks planning to provide as much as 1 trillion yuan ($148 billion) of loans to help builders complete stalled projects. At close of trade, the benchmark Shanghai Composite Index grew 0.21%, or 6.82 points, to 3,282.58. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.4%, or 8.70 points, to 2,203.24. The blue-chip CSI300 index was up 0.01%, or 0.63 point, to 4,225.67. CURRENCY NEWS: Chinas yuan strengthened to two week high against the U.S. dollar, inline with firmer mid-point fixing by central bank. Prior to market opening, the Peoples Bank of China (PBOC) set the midpoint rate CNY=PBOC at 6.7411 per dollar, 0.47% stronger than the previous fix of 6.7731. In the spot market, the onshore yuan CNY=CFXS was changing hands at 6.7473 at around late afternoon, 0.19% up from the previous late session close of 6.76.Powered by Capital Market – Live News