China Stocks end mixed

The Mainland China share market finished session mixed on Monday, 22 June 2020, as sentiments were pressured by persistent concerns about a potential second wave of coronavirus infections. At closing bell, the benchmark Shanghai Composite Index slid 0.08%, or 2.36 points, to 2,965.27. The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.29%, or 5.54 points, to 1,936.65. The blue-chip CSI300 index rose 0.08%, or 3.34 points, to 4,102.05.

Risk sentiments were muted on renewed worries about a second wave of global coronavirus infections. Beijing has expanded nucleic acid testing across the city of 20 million after a cluster of infections linked to a food wholesale market erupted just over a week ago.

 

China kept its benchmark lending rate unchanged on Monday, with the 1-year loan prime rate left at 3.85%. The 5-year loan prime rate was also kept steady at 4.65%.

CURRENCY NEWS: The yuan eased against the dollar on Monday, despite firmer mid-point fixing by central bank, weighed by renewed worries about a second wave of global coronavirus infections, which could derail any economic recovery. Prior to the market open, the People's Bank of China (PBOC) set the midpoint rate CNY=PBOC at 7.0865 per dollar, 48 pips or 0.07% firmer than the previous fix of 7.0913. In the spot market, onshore yuan CNY=CFXS opened at 7.0810 per dollar and was changing hands at 7.0782 at midday, 79 pips weaker than the previous late session close.

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