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GUOSEN Closing Bell (May 11)

By:

Sales Trader, International Business Division

MARKET

In the PM session, market dropped below the Friday level. Till market end, Construction Material and Household Appliance led the gain. Agriculture and Customer Services led the fall. In total, both markets traded 684.73 billion RMB, down 0.4%.

OpenClose% Change(bn yuan)
Shanghai2901.572894.8-0.02271.93
Shenzhen11053.8210969.28-0.29412.80
CSI 3003974.763960.18-0.09193.76
ChiNext2137.982102.83-1.05133.24
SectorTop 1Led byTop 2Led by
Upward-leadingConstruction Material000546Household Appliance300342
Downward-leadingAgriculture002157601888Customer Services

NEWS

*Huawei Partners With Carmakers to Build 5G-Enabled Automobile Ecosystem

Chinese tech giant Huawei has established an alliance with a handful of automakers and ride-hailing service providers to build a 5G-enabled automobile ecosystem in a move to accelerate the uptake of 5G technology in smart cars, according to a company statement.

*Oil Stockpiles Have Stopped Growing in the World’s Biggest Buyer

Crude inventories in China have shrunk in recent weeks after rising to record levels, according to analysts and satellite observations. Supplies have been drawn out of storage as refineries ramp up operations to meet rising demand from an economy emerging from lockdown.

*China’s Dajia Wins Fast-Track Trial for Suit Over Failed U.S. Hotel Deal

China’s Dajia Insurance Group convinced a Delaware judge to fast-track an August trial for its claim that Mirae Asset Global Investments Co. of South Korea used faulty legal pretexts to cancel a $5.8 billion purchase of 15 U.S. luxury hotels.

FUND FLOW

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