The Mainland China share market finished session higher on Wednesday, 16 February 2022, as appetite for risk assets underpinned on renewed hopes of monetary policy supports to boost economic growth after the official data released on Wednesday showed the country's factory-gate inflation eased to its slowest pace in six months in January.
At close of trade, the benchmark Shanghai Composite Index advanced 0.57%, or 19.74 points, to 3,465.83. The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.59%, or 13.36 points, to 2,296.99.
The blue-chip CSI300 index rose 0.39%, or 17.89 points, to 4,617.99.
CURRENCY NEWS: China's yuan slightly softened against the dollar on Wednesday despite firmer mid-point fixing by central bank. Prior to market opening, the People's Bank of China (PBOC) set the midpoint rate CNY=PBOC at 6.3463 per dollar, 0.22% firmer than yesterday's fix of 6.3605. Spot yuan CNY=CFXS was changing hands at 6.402 at late afternoon, 0.02% softer than the previous late session close.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU