China Stocks end mixed

The Mainland China share market finished session little changed on Monday, 21 February 2022, as People Bank of China held steady on a benchmark lending rate, with the one-year loan prime rate (LPR) kept unchanged at 3.7%, while also retaining the 4.6% interest rate on the over-five-year LPR. The central bank's decision came against expectations that it will announce more rate cuts after inflation moderated in February.

At close of trade, the benchmark Shanghai Composite Index was fell marginal 0.00%, or 0.14 points, to 3,490.61. The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.61%, or 14.01 points, to 2,325.80. The blue-chip CSI300 index sank 0.36%, or 16.93 points, to 4,634.31.

CURRENCY NEWS: China's yuan slightly softened against the dollar on Wednesday after softer mid-point fixing by central bank. Prior to market opening, the People's Bank of China (PBOC) set the midpoint rate CNY=PBOC at 6.3401 per dollar, 0.09% down than yesterday's fix of 6.3343. Spot yuan CNY=CFXS was changing hands at 6.276 at late afternoon, 0.03% softer than the previous late session close.

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