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Closing Bell (May 21, 2020)

By:

Sales Trader, International Business Division

MARKET

In the PM session, market moved downward. Till market end, Medical and Steel led the gain. Electronic and Computer led the fall. In total, both markets traded 686.7 billion RMB, up 7.04% dod.

OpenClose% Change(bn yuan)
Shanghai2896.472883.74-0.51269.18
Shenzhen11056.9810948.48-0.94417.52
CSI 3003955.713935.22-0.53157.10
ChiNext2149.292118.12-1.21145.43
SectorTop 1Led byTop 2Led by
Upward-leadingMedical002275Steel600126
Downward-leadingElectronic300671Computer300598

NEWS

*Nestle to Build Its First Plant-Based Food Factory in China

On the heels of the rollout of a number of foreign-made meat substitutes in the country, Swiss food giant Nestle has announced plans to build its first plant-based food factory in China. The announcement is part of a 100 million Swiss franc ($104 million) investment to strengthen its capability in a country with an estimated 50 million vegetarians and where the spend on protein derived from some vegetarian sources is expected to see double-digit growth.

*Tech giant Xiaomi reports 13.6% revenue growth in Q1

China’s tech giant Xiaomi reported 13.6 percent year-on-year revenue growth in the first quarter of 2020 despite the COVID-19 epidemic. Its total revenue in the January-March period totaled 49.7 billion yuan ($7 billion), the Beijing-headquartered company announced Wednesday in its quarterly financial report.

*Liangpin Shop stated on the interactive platform that the company has cooperated with celebrities, Internet celebrities and well-known anchors in various forms of cooperation. Every month, we will choose new products and explosive products to cooperate with well-known anchors to enhance brand awareness and allow more live broadcast audiences to experience the products. The sales generated by online celebrity live broadcasts account for a small proportion of our sales.

*SoftBank Group said it will sell 240 million shares of its mobile subsidiary SoftBank Corp. as part of a 4.5 trillion-yen asset sale or monetization plan, and its shareholding ratio will drop to 62.1%

FUND FLOW

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