The Mainland China share market finished session higher on Monday, 19 April 2021, as strong foreign inflows after reports that foreign investors purchased a net 14.2 billion yuan worth of A-shares via the Stock Connect linking mainland and Hong Kong. Meanwhile, investors' sentiments also boosted up after the China Banking and Insurance Regulatory Commission on late Friday calmed market concerns, saying that China Huarong Asset Management has ample liquidity to tackle its debt situation.
However, market gains capped as many investors becoming cautious ahead of a U.S. Senate panel's consideration of a China bill to gauge future developments in Sino-U.S. relations.
At closing bell, the benchmark Shanghai Composite Index advanced 1.49%, or 50.93 points, to 3,477.65. The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 2.44%, or 54.14 points, to 2,274.36. The blue-chip CSI300 index rose 2.43%, or 120.84 points, to 5,087.02.
Hangzhou Hikvision, China's biggest maker of surveillance cameras, rallied 7.3% to 61.21 yuan in Shenzhen after first-quarter profit increased 45% from a year ago.
Suzhou Sonavox Electronics, a maker of automobile electronic products, jumped 317% from the initial public offering price to 32.18 yuan. Fujian Wanchen Biotechnology, which makes edible fungi products, and Dongguan Tarry Electronics, gained at least 38% in Shenzhen.
CURRENCY NEWS: China yuan was lower against the dollar on Monday, despite firmer mid-point fixing by central bank. Prior to market opening, the People's Bank of China (PBOC) set the midpoint rate at a near four-week high of 6.5233 per dollar, firmer than the previous fix of 6.5288. In the spot market, onshore yuan opened at 6.5282 per dollar and was changing hands at 6.5258 at midday, 46 pips weaker than the previous late session close.
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