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GUOSEN Closing Bell (May 7)

By:

Sales Trader, International Business Division

MARKET

In the PM session, market continued fluctuate around the opening level. Till market end, Food & Beverage and Agriculture led the gain. Household Appliance and Construction led the fall. In total, both markets traded 667.23 billion RMB, down 7.47%.

OpenClose% Change(bn yuan)
Shanghai2876.472871.52-0.23268.61
Shenzhen10899.9210863.29-0.18398.62
CSI 3003937.593924.89-0.29167.21
ChiNext2113.752106.84-0.16130.67
SectorTop 1Led byTop 2Led by
Upward-leadingFood & Beverage000869Agriculture600359
Downward-leadingHousehold Appliance002076Construction002856

NEWS

*Online Publisher China Literature Moves to Quell Author Unrest

China Literature’s new top brass met with some of the company’s select writers on Wednesday to address their concerns on topics like copyright ownership and paid-versus-free business models. The new management team said discussions were still in progress for a free-read mechanism, but that the model for paid literature offerings would be consolidated and expanded in the future.

*China’s ZTE Allows Partially Owned Turkish Subsidiaries to Guarantee Each Other’s Loans

Chinese telecom equipment manufacturer ZTE said Wednesday that its board has approved a plan to allow three Turkish companies in which it owns direct and indirect stakes to jointly guarantee each other’s loans.

*China Is Virtually Alone in Backing Coal in Africa

For more than two decades, Zimbabwe has been trying to break ground on a giant coal-power complex by the world’s biggest man-made reservoir. China just agreed to get the $4.2 billion project underway.

FUND FLOW

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