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GUOSEN Closing Bell (April 20)

By:

Sales Trader, International Business Division

MARKET

In the PM session, market continued its upward trend. Till market end, Construction Material and Computer led the gain. Banking and Real Estate led the fall. In total, both markets traded 617.29 billion RMB, down 16.62%.

OpenClose% Change(bn yuan)
Shanghai2840.412852.550.5233.76
Shenzhen10553.5510621.50.89383.53
CSI 3003747.843853.460.36151.92
ChiNext2027.842043.441.12132.57
SectorTop 1Led byTop 2Led by
Upward-leadingConstruction Material000055Computer002421
Downward-leadingBanking600016Real Estate002147

NEWS

*Pinduoduo Buys Into Home Appliance Retailer to Sell Their Branded Goods.

Chinese e-commerce upstart Pinduoduo has agreed to subscribe to $200 million in convertible bonds issued by home appliance retailer Gome in exchange for the right to sell the latter’s branded products on its own platform.

*Fresh Blow for Boeing as China Leasing Firm Scraps Max Order

China Development Bank Financial Leasing Co. canceled an order for 29 Boeing Co. 737 Max planes, worth at least $2.9 billion based on list prices, joining a growing list of customers scaling back plans for buying the grounded jet.

*China’s Coal Miners Call for 10% Production Cut Amid Supply Glut

A dozen Chinese anthracite coal miners have called on the industry to slash production by 10% from current levels amid weak demand caused by the coronavirus outbreak.

*Alibaba Cloud announces mammoth infrastructure investment

Alibaba’s cloud computing branch announced on Monday it would invest 200 billion yuan (about $28 billion) in the research and development of core technologies such as cloud operating system, servers, chips and networks within three years.

FUND FLOW

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