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Closing Bell (June 8, 2020)

By:

Sales Trader, International Business Division

MARKET

In the PM session, market stopped the downward trend and kept fluctuating. Till market closed, Household Appliance and Petrochemical led the gain. Retail and Medical led the fall. In total, both markets traded 684.29 billion RMB, up 8.35% dod.

OpenClose% Change(bn yuan)
Shanghai2941.982937.770.24274.61
Shenzhen11266.9311215.760.31409.67
CSI 3004023.614021.950.52193.05
ChiNext2184.582153.56-0.59138.79
SectorTop 1Led byTop 2Led by
Upward-leadingHousehold Appliance300342Petrochemical601808
Downward-leadingRetail600086Medical002581

NEWS

*The 102nd National Sugar and Liquor Commodities Fair will be held on July 28-30, 2020 in the form of an online exhibition. The organizing committee will work with Alibaba Group to make full use of artificial intelligence, cloud computing and other technologies to establish a national sugar and wine fair cloud exhibition platform that integrates online display, supply and purchase docking, live broadcast marketing, and negotiation transactions.

*The increase in Hong Kong stocks’ iron cargo expanded to over 60%. The giant Vale suspended three mining areas due to the epidemic, and iron ore prices rose sharply.

*Tencent Launches Credit Scoring System Based on WeChat Purchases

Chinese tech giant Tencent Holdings Ltd. has launched a credit scoring system based on what users buy over its messaging app WeChat, a move that will enable it to offer consumer-related credit services on its platform even after it failed to get an official personal credit reporting license from the central bank.

*NetEase Opens Console Game Production Studio in Tokyo

Chinese internet and gaming company NetEase has set up a new overseas game studio in Tokyo, Japan as part of its global expansion.

FUND FLOW

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