China Stocks gain 0.4%

The Mainland China share market finished higher for the first time in five straight sessions on Monday, 10 January 2022, as investors chased for recently battered stocks after the country's Securities Regulatory Commission said it would adopt various measures to avoid volatility and "firmly" prevent big fluctuations.

At close of trade, the benchmark Shanghai Composite Index added 0.39%, or 13.98 points, to 3,593.52. The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.59%, or 14.51 points, to 2,467.32. The blue-chip CSI300 index added 0.45%, or 21.67 points, to 4,844.04.

CURRENCY NEWS: China's yuan was up against the U.S. dollar on Monday after firmer mid-point fixing by the central bank. Prior to market opening, the People's Bank of China (PBOC) set the midpoint rate CNY=PBOC at 6.3653 per dollar, 89 pips firmer than the previous fix 6.3742. In the spot market, the onshore yuan CNY=CFXS was changing hands at 6.3737 around late afternoon, 33 pips firmer than the previous late session close.

 

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