China Stocks extend gain to third day

The Mainland China share market finished higher for third straight session on Tuesday, 18 May 2021, helped by gains in Oil & Gas Equipment & Services, Health Care, Airlines, Finance, and Real Estate Management & Services stocks. However, losses in Education Services, Pharmaceutical & Biotechnology, Railway Transportation, and Metal & Glass Containers stocks capped upside.

At closing bell, the benchmark Shanghai Composite Index was up 0.32%, or 11.40 points, to 3,529.01. The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.17%, or 3.94 points, to 2,324.27. The blue-chip CSI300 index climbed up 0.06%, or 2.61 points, to 5,187.60.

 

CURRENCY NEWS: China yuan strengthened against the dollar on Tuesday, despite weaker mid-point fixing by central bank. Prior to market opening, the People's Bank of China (PBOC) fixed the midpoint rate CNY=PBOC at 6.4357 per dollar, 0.08% softer than the previous fix of 6.4307. In the spot market, the onshore market CNY=CFXS was changing hands at 6.4278, stronger by 0.18% than the previous late session close.

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