The Mainland China share market finished session lower on Tuesday, 23 February 2021, as worries over policy tightening continued to weigh on sectors with lofty valuations.
At closing bell, the benchmark Shanghai Composite Index declined 0.17%, or 6.05 points, to 3,636.36. The Shenzhen Composite Index, which tracks stocks on China s second exchange, dropped 0.85%, or 20.65 points, to 2,396.01. The blue-chip CSI300 index fell 0.32%, or 17.66 points, to 5,579.67.
The trend of China s policy tightening is quite evident and definite, though the PBOC would refrain from sudden and fast tightening with an aim to provide stability for the market.
China s central bank said it would prioritise policy stability and avoid making sudden shifts, while providing the support needed for a continued economic recovery in 2021.
Read more about Japan Nikkei advances on bargain-hunting on Business Standard. At closing bell, the 225-issue Nikkei Stock Average advanced 138.11 points, or 0.46%, to 30,156.03. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 9.40 points, or 0.49%, to 1,938.35.
The Mainland China share market finished session steep lower on Monday, 22 February 2021, as concerns grew of a gradual tightening in lending conditions after one-year loan prime rate (LPR) in China was left unchanged at 3.85% and China s potential plans to allow more capital outflows.
At closing bell, the benchmark Shanghai Composite Index declined 1.45%, or 53.72 points, to 3,642.45. The Shenzhen Composite Index, which tracks stocks on China s second exchange, dropped 2.11%, or 51.99 points, to 2,416.67. The blue-chip CSI300 index fell 3.14%, or 181.51 points, to 5,597.33.
The People s Bank of China (PBOC) on Saturday kept on hold their benchmark loan prime rate, which is set by China s largest commercial lenders and uses an official central bank interest rate as its floor. China kept the one-year loan prime rate (LPR) unchanged at 3.85%. The rate has not moved since it dropped to 3.85% in April last year, when cities nationwide went into lockdown in order to stamp out coronavir
The Australian share market finished session lower in choppy trade on Monday, 22 February 2021, as losses in healthcare and tech stocks countered strong gains in miners driven by buoyant commodity prices. At closing bell, the benchmark S&P/ASX200 declined 12.90 points, or 0.19%, to 6,780.89. The broader All Ordinaries dropped 2.49 points, or 0.04%, to 7,061.55.
Mining stocks rose, with copper miners leading the charge after prices of the base metal hit a more than nine-year high last week. Iron ore prices have defied expectations and returned to record highs of nearly $US170 per tonne as Chinese demand for the steel-making ingredient remained elevated, while copper prices have spiked this month. Iron ore titans BHP Group, Rio Tinto, and Fortescue all gained more than 3%.
Read more about China Market gains 0.57% on Business Standard. At closing bell, the benchmark Shanghai Composite Index advanced 0.57%, or 20.81 points, to 3,696.17. The Shenzhen Composite Index, which tracks stocks on China s second exchange, added 0.75%, or 18.27 points, to 2,468.66. The blue-chip CSI300