China Stocks end lower

The China share market finished session lower on Friday, 25 September 2020, as concerns authorities will stiffen penalties against financial crimes and amid the lack of a fresh stimulus package in the US and a spike in coronavirus cases in Europe. However, market losses capped as China's inclusion in a key global bond index bolstered expectations of a significant increase in capital inflows into the country.

At closing bell, the benchmark Shanghai Composite Index declined 0.12%, or 3.76 points, to 3,219.42. The Shenzhen Composite Index, which tracks stocks on China's second exchange, decreased 0.23%, or 5.03 points, to 2,143.05. The blue-chip CSI300 index dropped 0.15%, or 6.95 points, to 4,570.02.

 

Four mainland companies - Shanghai Zhonggu Logistics, Guangzhou Ruoyuchen Tech, Elite Color Environmental Resources and Shaanxi Zhongtian Rocket Technology - made their trading debuts on the Shanghai and Shenzhen exchanges. All four stocks jumped by 44 per cent, the daily limit allowed for debutants on the main boards.

CURRENCY NEWS: China's yuan strengthened against greenback on Friday, despite the central bank set a fixed softer mid-point rate as China's inclusion in a key global bond index bolstered expectations of a significant increase in capital inflows into the country. Prior to the market's opening, the People's Bank of China (PBOC) set the midpoint rate CNY=PBOC at 6.8121 per dollar, down by 0.14% than previous day fix of 6.8028. In the spot market, onshore yuan CNY=CFXS was changing hands at 6.817, stronger by 0.15% from the previous day session close at 6.8275.

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