China Market gains 0.3%

The Mainland China share market finished session higher on Monday, 24 May 2021, as gains in shares of technology, consumer staples, and financial issues were more than offset by losses in materials, industrials, and energy stocks.

At closing bell, the benchmark Shanghai Composite Index was up 0.31%, or 10.73 points, to 3,497.28. The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.75%, or 17.47 points, to 2,337.26. The blue-chip CSI300 index added 0.42%, or 21.44 points, to 5,155.59.

Top performing sectors in the Shanghai Stock Exchange were Restaurants (up 10%), Yellow Wine (up 6.14%), Real Estate Management & Services (up 6.03%), Vintners & Others (up 5.91%), and Forest Products (4.71%), while worst performing sectors were Health Care Technology (down 7.53%), Marine (down 2.84%), Automobile (down 2.62%), Rare Metals (2.57%), and Communication Transmission Equipment (down 2.44%).

Top performing sectors in the Shenzhen Stock Exchange were Packaged Foods & Meats (up 6.09%), Other Communications Equipment (up 3.9%), Airlines (up 3.89%), Fishery Products (up 3.68%), and White Liquor (up 3.38%), while worst performing sectors were Livestock Products (down 5.9%), Water (down 3.44%), Office Services & Supplies (down 3.12%), Marine (down 3.02%), and Heating or Other Utilities (down 2.89%).

CURRENCY NEWS: China yuan edged up against the dollar on Monday, despite firmer mid-point fixing by central bank, as crashing speculation about possible currency regime change. Prior to market opening, the People's Bank of China (PBOC) fixed the midpoint rate CNY=PBOC at 6.4408 per dollar, 0.17% weaker than the previous fix of 6.43. In the spot market, the onshore market CNY=CFXS was changing hands at 6.4330, stronger by 0.02% than the previous late session close of 6.4345.

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