China Stocks end slightly up

The Mainland China share market finished session slight lower on Monday, 15 November 2021, as risk sentiments subdued after disappointing property investment and sales growth data for January-October period. However, market losses capped, thanks to sightly better-than-expected industrial output and retail sales in October and on rising hopes for an improvement in Sino-U.S. relations.

At close of trade, the benchmark Shanghai Composite Index fell 0.16%, or 5.80 points, to 3,533.30. The Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 0.19%, or 4.77 points, to 2,462.9. The blue-chip CSI300 index dropped 0.12%, or 6.00 points, to 4,882.38.

Investors waited for the virtual summit of the leaders of the U.S. and China set for this week. U.S. President Joe Biden and his Chinese counterpart Xi Jinping will exchange views on bilateral and international issues during the virtual meeting.

ECONOMIC NEWS: China Industrial Production Up 3.5% On Year In October- China industrial production was up 3.5% on year in October, the National Bureau of Statistics said on Monday, up from 3.1% in September. The bureau also said that retail sales jumped an annual 4.9% up from 4.4% in the previous month. Fixed asset investment increased 6.1% on year, slowing from 7.3% a month earlier. The jobless rate came in at 4.9% last month, unchanged from September. The house price index was up 3.4% on year, slowing from 3.8% in the previous month.

CURRENCY NEWS: China's yuan was down against the U.S. dollar on Monday despite stronger mid-point fixing by central bank. Prior to the market opening, the People's Bank of China (PBOC) set the midpoint CNY=PBOC at 6.3896 per dollar, 169 pips or 0.26% firmer than the previous fix of 6.4065. In the spot market, onshore yuan CNY=CFXS was changing hands at 6.3821 late afternoon, 0.06% weaker than the previous late session close.

The People's Bank of China (PBOC) injected 1 trillion yuan ($156.77 billion) worth of one-year medium-term lending facility (MLF) loans on Monday to some financial institutions steady at 2.95% from previous operations. The central bank also injected another 10 billion yuan worth of seven-day reverse repurchase agreements into the banking system on the day, compared with 100 billion yuan worth of such notes due on Monday.

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