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Closing Bell (June 11, 2020)

By:

Sales Trader, International Business Division

MARKET

In the PM session, both indexes changed direction and moved downward. Till market closed, Automobile and Power Generating led the gain. Agriculture and Food & Beverage led the fall. In total, both markets traded 720.97 billion RMB, up 17.21% dod.

OpenClose% Change(bn yuan)
Shanghai2939.792920.9-0.78289.02
Shenzhen11328.111243.62-0.81431.95
CSI 3004031.743995.88-1.08197.08
ChiNext2202.142195.64-0.29156.55
SectorTop 1Led byTop 2Led by
Upward-leadingAutomobile601777Power Generating002576
Downward-leadingAgriculture002604Food & Beverage002650

NEWS

*Solar Panel Maker Trina Shines Brightly on Shanghai’s STAR Market Debut

Trina Solar Co. Ltd., a solar-panel maker, closed up 111% at its first trading day on the Nasqaq-like STAR market of the Shanghai Stock Exchange on Wednesday. It raised more than 2.3 billion yuan ($325 million) in the IPO.

*EU Privacy Watchdog Sets Its Sights on TikTok

Newly appointed TikTok CEO Kevin Mayer could face heat over privacy issues in Europe after the EU set up a task force to look at the short form video app.

*U.S. Lawmakers Propose $25 Billion to Help Chip Industry

U.S. lawmakers proposed an estimated $25 billion in funding and tax credits to strengthen domestic semiconductor production and counter rising technological competition from China.

*Matrix Partners China Closes New Venture Capital Fund at $750 Million

Matrix Partners China, a venture capital (VC) firm that has backed major Chinese tech firms at their early stages, has raised $750 million for its flagship venture investment vehicle, according to its latest filing with the U.S. Securities and Exchange Commission (SEC).

FUND FLOW

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