The Mainland China share market finished session lower on Friday, 28 May 2021, as investors opted to book recent profit amid lingering worries about China's policy tightening and Sino-U. S. relations after the U. S. Senate advanced a sweeping package of legislation intended to boost the country's ability to compete with Chinese technology.
At closing bell, the benchmark Shanghai Composite Index fell 0.22%, or 8.07 points, to 3,600.78. The Shenzhen Composite Index, which tracks stocks on China's second exchange, fell 0.24%, or 5.79 points, to 2,393.49. The blue-chip CSI300 index was down 0.32%, or 17.14 points, to 5,321.09.
For the week, CSI300 advanced 5.9%, while Shanghai Composite Index climbed 4.5%.
The best performing sectors in the Shanghai Stock Exchange were Livestock Products (up 6.99%), Optoelectronic Devices (up 6.61%), Vintners & Others (up 5.42%), Forest Products (up 4.55%), and Other Non-ferrous Metal (up 4.13%), while the worst performing sectors were Paint (down 5.48%), Other Retail (down 4.31%), Health Care Services (down 4.11%), Office Services & Supplies (down 3.77%), and Communication Terminal Equipment (down 3.48%).
The best performing sectors in the Shenzhen Stock Exchange were Internet Retail (up 7.8%), Water (up 5.22%), Plastics (up 5.19%), New Energy Equipment (up 4.97%), and Forest Products (up 3.65%), while the worst performing sectors were Pharmaceutical & Biotechnology Services (down 5.57%), Motorcycle (down 4.27%), Health Care Services (down 3.7%), Education Services (down 3.38%), and Airlines (down 3.24%).
Five companies debuted on the mainland bourses. In Shanghai, Everdisplay Optronics Shanghai rose 58.5% to 4.20 yuan from its listing price of 2.65 yuan. Yunnan Shennong Agricultural Industry Group gained 12.9% to 63.32 yuan from 56.08 yuan, while textile product distributor Wuhu Fuchun Dye & Weave added 44% to 28.73 yuan from 19.95 yuan. In Shenzhen, plastic product manufacturer Shanghai Hajime Advanced Material Technology gained 46.2% to 94.01 yuan from its listing price of 64.31 yuan, while Shanghai Kaytune Industrial added 137.6% from 25.54 yuan.
CURRENCY NEWS: China yuan advanced against the dollar on Friday, as firmer mid-point fixing by central bank. Prior to market opening, the People's Bank of China (PBOC) fixed the midpoint rate CNY=PBOC at 6.3858 per dollar, 0.27% firmer from the previous day fix of 6.403. Friday's official guidance rate was the strongest since May 2018 and set above the psychologically important 6.4 per dollar level. In the spot market, the onshore market CNY=CFXS was changing hands at 6.3705, stronger by 0.21% from the previous late session close of 6.384.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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