The Mainland China share market finished session higher on Thursday, 15 July 2021, as better-than-expected retail sales, industrial output and fixed investment growth for June, and fresh liquidity from China's central bank propped up investor appetite. However, market gains capped after reports showing China's economy grew less than expected in the second quarter.
At closing bell, the benchmark Shanghai Composite Index was up 1.02%, or 36.09 points, to 3,565.59. The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.35%, or 8.65 points, to 2,478.72. The blue-chip CSI300 index added 1.35%, or 68.38 points, to 5,151.46.
Earlier in the day, People's Bank of China (PBOC) rolled over part of the 400 billion yuan maturing one-year medium-term lending facility (MLF) loans, by injecting 100 billion yuan ($15.46 billion).
The move, coupled with the PBOC's surprise reserve requirement ratio cut announced last week, pointed to a loosening policy bias at the PBOC.
ECONOMIC NEWS: China GDP Climbs 7.9% On Year In Q2-China's gross domestic product was up 7.9% on year in the second quarter of 2021, the National Bureau of Statistics said on Thursday, down sharply from 18.3% in the three months prior. On a quarterly basis, GDP gained 1.3%, up from 0.6% in the previous three months.
Industrial production climbed an annual 8.3% in June, exceeding market expectations but down from 8.8% in May. Fixed asset investment jumped an annual 12.6%, slowing from 15.4% in the previous month. Retail sales expanded 12.1% year-on-year, after rising 12.4% in May. The jobless rate held steady at 5%.
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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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