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GUOSEN Closing Bell (April 13)

By:

Sales Trader, International Business Division

MARKET

In the PM session, market kept fluctuating at low level. Till market closed, Household Appliance and Construction Material led the gain. Comprehensive Finance and Communication led the fall. In total, both markets traded 499.04 billion RMB, down 25.74%.

OpenClose% Change(bn yuan)
Shanghai2784.62783.05-0.49184.12
Shenzhen10225.5310223.16-0.73314.91
CSI 3003751.713753.26-0.42119.87
ChiNext1929.81923.08-1.37108.06
SectorTop 1Led byTop 2Led by
Upward-leadingHousehold Appliance002076Construction Material002233
Downward-leadingComprehensive Finance300773Communication300292

NEWS

*Chinese Appliance-Maker Hisense to Sack 20% of Workforce Amid Covid-19 Pandemic

Chinese home appliance-maker Hisense Group is laying off more than 10,000 people, several company employees told Caixin, as the global coronavirus pandemic has disrupted production and reduced demand for its products.

*China’s ‘Green Zone’ Coal Price Tested in Battle Against Virus

China’s coal prices have sunk to levels that threaten state intervention, but this time policymakers may refrain from doing so as they continue efforts to buttress the economy hurt by the coronavirus pandemic. The government will try to keep power prices low as it pushes to restart the economy, according to analysts. That goal will be helped by the decline in benchmark prices to just above 500 yuan ($71.05) a ton, the lower end of a range that Beijing generally tries to maintain.

*China imports 2m tons of pork in 2019

*Hainan launches work on 100 projects with 49b yuan investment

A total of 100 Hainan Free Trade Port projects with 48.9 billion yuan ($6.94 billion) investment got underway on Monday, Hainan Daily reported.

FUND FLOW

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