In the PM session, Shanghai Index fluctuated below Wednesday level, while Shenzhen Index fluctuated above Wednesday level. Till market closed, Household Appliance and Food & Beverage led the gain. Comprehensive Finance and Communication led the fall. In total, both markets traded 650.67 billion RMB, down 16.35% dod.
|Open||Close||% Change||(bn yuan)|
|Sector||Top 1||Led by||Top 2||Led by|
|Upward-leading||Household Appliance||600336||Food & Beverage||000729|
*Chinese Online Microlender Qudian Invests in Luxury Goods E-Retailer
Shares of Qudian, a New York-listed Chinese online microlender, closed up nearly 5% on Wednesday hours after announcing an agreement allowing it to buy shares in Nasdaq-listed Chinese online luxury retailer Secoo for $100 million.
*China to Allow Banned Foreign Airlines to Resume Some Flights
China said Thursday it will allow foreign airlines that previously operated flights to the country but are now barred due to virus control measures to resume limited flights, a day after the U.S. said it would launch a reciprocal ban on all Chinese carriers.
*Motor-Maker Nidec to Set Up R&D Site in China Despite Sino-U.S. Tensions
Nidec, the world’s largest motor manufacturer, will set up a new research and development facility in China for drive motors used in electric vehicles, Nikkei has learned, hoping to counter risks arising from Sino-U.S. tensions and also take in Chinese demand.
*CIC, BNP Paribas, Eurazeo Launch $446 Million Cooperation Fund
China’s sovereign wealth fund is launching a 400 million euro ($446 million) joint fund with French bank BNP Paribas and private equity firm Eurazeo to invest in European companies demonstrating potential in Chinese markets, China Investment Corp. (CIC) said Wednesday. The initial amount of the France-China Cooperation fund was underwritten by the three partners, which can commit as much as an additional 250 million euros. BNP Paribas and CIC will each have an investment limit of 25% of the fund. Additional capital may be raised from third parties, CIC said.
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