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GUOSEN Closing Bell (May 12)

By:

Sales Trader, International Business Division

MARKET

In the PM session, market changed direction and move upward. Till market end, Household Appliance and Medical led the gain. Construction and Real Estate led the fall. In total, both markets traded 599.35 billion RMB, down 12.47%.

OpenClose% Change(bn yuan)
Shanghai2894.622891.56-0.11238.48
Shenzhen10972.0511015.560.42360.88
CSI 3003961.343960.240157.47
ChiNext2106.222124.151.01119.69
SectorTop 1Led byTop 2Led by
Upward-leadingHousehold Appliance002959Medical002107
Downward-leadingConstruction601789Real Estate000609

NEWS

*Courier Giant SF Tests Food-Delivery Market

SF Holding Co. Ltd., parent of courier giant SF Express, is testing a new food-delivery service targeting business clients buying in bulk. If it moves ahead with the plan, it would become the latest challenger in a crowded market dominated by the two tech giants – Meituan Dianping and Alibaba.

*Tencent Music Reports Moderate Revenue Growth in Q1

Tencent Music Entertainment, a subsidiary of Chinese internet giant Tencent, reported an uptick in total revenue but a fall in net profits in the first quarter of 2020, as the coronavirus pandemic impacted the company’s social entertainment services business.

*Shale gas field marks major milestone

China’s first large-scale shale gas installation, the Chongqing Fuling field, has produced a total of 30 billion cubic meters of gas since operations began in 2013, according to China Petroleum & Chemical Corp (Sinopec) Jianghan Oilfield Co.

*Industrial park’s chief confident about Belarus-China cooperation on BRI

The chief of a China-Belarus industrial park is confident about the two countries’ cooperation in implementing the Belt and Road Initiative (BRI), especially in the development of the park, an important BRI project.

FUND FLOW

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