Mainland China share market finished session lower on Monday, 04 December 2023, as risk sentiments dampened amid persistent concerns over an economic slowdown after a string of weak economic readings from the country over the past week..
At close of trade, the benchmark Shanghai Composite index was down 0.29%, or 8.72 points, to 3,022.91. The Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 0.34%, or 6.34 points, to 1,881.64. The blue-chip CSI300 index declined 0.65%, or 22.74 points, to 3,460.14.
CURRENCY NEWS: China's yuan was down changed against the dollar on Monday following despite firmer guidance from the central bank. Prior to the market's opening, the People's Bank of China set the midpoint rate at 7.1011 per dollar, 93 pips firmer than the previous fix of 7.1104. In the spot market, the onshore yuan CNY=CFXS yuan was changing hands at 7.1323 at midday, 48 pips weaker than the previous late session close.
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