China Stocks end mixed

Mainland China share market finished session mixed on Tuesday, 18 October 2022, as investors closely awaiting for the results of China's leadership reshuffle, which will be disclosed this weekend as the Communist Party Congress concludes.

At close of trade, the benchmark Shanghai Composite Index fell 0.13%, or 3.98 points, to 3,080.96. The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.36%, or 7.27 points, to 2,005.08. The blue-chip CSI300 index decreased 0.21%, or 8.14 points, to 3,838.27.

CURRENCY NEWS: China's yuan was little changed against the dollar on Tuesday, helped by a steady midpoint fixing and supportive policies. Prior to market open, the People's Bank of China set the midpoint rate CNY=PBOC at 7.1086 per dollar, a level that barely changed over the past week. The onshore yuan CNY=CFXS was changing hands at 7.1950 at midday. The steady fixing is designed to anchor the yuan ahead of, and during the week-long Communist Party Congress that opened on Sunday. In addition, China's state banks stepped up their intervention to defend a weakening yuan.

 

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