Wednesday , April 14 2021

China rises in hopes of trade negotiations

Chinese stocks soared on Thursday as Beijing sent written answers to US trade demands, sparked hope for new negotiations between China and China, and financial and securities firms benefited from market policy support.

The Shanghai Composite Index rose 1.4% to 2,668.17. The good chip CSI300 index rose 1.2% to 3,242.37.

The CSI300 index climbed 1.17%, the financial sector sub-index 1.5%, the core consumer goods sector 0.67%, the real estate index 1.13% and the medical sector index 0.3%.

China has given written answers to US demands for extensive trade reforms in a move that could trigger negotiations to end the waning trade war in the global economy.

Sub-index tracking Real estate firm said new data rose 1.13 percent, with average new home prices in 70 major cities in China rising 1.0 percent in October despite slowing investment, particularly in small city profits.

However, according to Reuters' analysis of 1,950 listed companies in Shanghai and Shenzhen, the combined net profit growth in the third quarter was only 3.9%. Compared to the 20-55% rise in every quarter over the last two years, there is a warning sign for economic growth.

Hainan-based companies counted after the Chinese government approved a proposal to promote southern provinces as part of an effort to stimulate the economy. Food producers and coal miners Sundina Holding and Hainan Mining, an iron ore miner, exceeded the daily limit of 10%.

The Shenzhen index rose 1.45% and the ChiNext index of business start-ups rose 1.41%.

The region's MSCI Asia Japan / Japan stock index fell 1% and Japan's Nikkei fell 0.2%.

At 7:15 am (GMT), the yuan was up 6.9343 won against the dollar, up 0.23% from the previous close of 6.95.

The highest percentage of Shanghai Composite Index is China Hi-Tech Group Co Ltd (10.08%), Ginwa Enterprise Group Inc (10.04%), Shanghai Shibei Hi-Tech Co Ltd 10.04%.

The biggest losses in the Shanghai Index were followed by Shanghai Sunglow Packaging Technology Co Ltd (8.66%), Nanjing Chixia Development Co Ltd (5.21%) and Harbin Gong Da High-Tech Enterprise Development Co Ltd (5.11%).

To date, the Shanghai stock market has fallen 19.3%, the CSI 300 index has fallen 19.6%, while Hong Kong's China H index has declined 10.3%. Shanghai stock rose 2.51% this month.

In the Shanghai exchange, about 20.78 billion shares were traded, which is equivalent to 126.5% of the market's average daily moving average of 16.43 billion a day. The volume of transactions for the previous trading session was $ 23.84 billion.

07:16 Greenwich Mean Time (GMT) As of today, China 's A shares traded at a premium of 18.25% over H shares listed in Hong Kong.

The Shanghai stock index is lower than the 50-day moving average and the 200-day moving average.

The Shanghai index was 10.97% as of the trading day, but the dividend yield was 2.9%.

By this week, Shanghai 's market capitalization was up 1.29 percent to 28.16 trillion yuan.

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