China Market ends higher, green energy stocks lead rally

The Mainland China share market finished session higher on Friday, 23 April 2021, led by gains in new energy vehicles firms after President Xi Jinping's renewed his pledge to make China carbon neutral by 2060.

At closing bell, the benchmark Shanghai Composite Index advanced 0.26%, or 9.05 points, to 3,474.17. The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.45%, or 10.36 points, to 2,298.55. The blue-chip CSI300 index rose 0.91%, or 46.21 points, to 5,135.45.

President Xi Jinping's emphasized China's commitment to achieve its major targets on fighting climate change, including realizing a carbon emissions peak in 2030 and achieving carbon neutrality in 2060, and stressed the common destiny of human beings and nature.

 

CURRENCY NEWS: China yuan was down against the dollar on Friday, inline with 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 6.4934 per dollar, 0.05% softer than the previous fix of 6.4902. In the spot market, onshore yuan was last quoted at 6.497, weaker by 0.09% from the previous late session close of 6.4912.

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