In the PM session, market was stable. It slightly fluctuated around yesterday’s closing level. Till market end, Food & Beverage and Electronic led the gain. Textile and Petrochemical led the fall. In total, both markets traded 673.91 billion RMB, up 21.07%.
|Open||Close||% Change||(bn yuan)|
|Sector||Top 1||Led by||Top 2||Led by|
|Upward-leading||Food & Beverage||603755||Electronic||603055|
*Alibaba-Backed Online Bank Lends to Over 20 Million Small and Micro Firms
The Alibaba-backed 5-year-old online lender MYbank provided loans to more than 20 million small and micro businesses in China as of the end of 2019, about 80% of which had no record of borrowing money from traditional banks.
*Chinese Smartphone Brand Outstrips Samsung’s Q1 Sales to India
For the three months through March, Vivo grew its smartphone shipments by nearly 50% to 6.7 million units in India, giving it a market share of 19.9%, according to statistics provided by research firm Canalys.
*China releases more pork from central reserves
China has released another 7,942.21 tones of frozen pork from its central reserves to increase market supply and stabilize pork prices, according to the National Development and Reform Commission.
*Skyworth makes heavy investment into new tech
Chinese television maker Skyworth Group is beefing up research and development of cutting-edge technologies to gain more market share, despite the slowdown in the domestic TV sector.
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