:::LALKAR GROUP::::

The Mainland China share market finished session higher on Wednesday, 09 June 2021, after official data showed country's consumer price index in May rose less than expected 1.3% from a year earlier. However, market gains capped amid lingering Sino-US trade tension and concerns about further policy tightening after producer price index for May jumped more than expected 9% from a year earlier.

At closing bell, the benchmark Shanghai Composite Index advanced 0.32%, or 11.29 points, to 3,591.40. The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.14%, or 3.41 points, to 2,396.54. The blue-chip CSI300 index added 0.08%, or 4.33 points, to 5,236.45.

The best performing sectors in the Shanghai Stock Exchange were Air Freight (up 44%), Vintners & Others (up 5.6%), Property & Casualty Insurance (up 5.1%), Health Care Facilities (up 4.5%), and Oil & Gas Drilling (up 4.2%), while the worst performing sectors were Internet Retail (down 3.9%), Computer & Electronic Equipment Dealer (down 3.5%), Yellow Wine (down 2.9%), Oil & Gas Storage & Transportation (down 2.6%), and Health Care Technology (down 2%).

The best performing sectors in the Shenzhen Stock Exchange were Industrial Conglomerates (up 4.9%), Specialized Consumer Services (up 4.9%), Oil & Gas Refining & Marketing (up 3.7%), Shoes (up 3.7%), and Coal (up 3.6%), while the worst performing sectors were Household Products (down 4.1%), Brewers (down 3.7%), Leisure Services (down 3.2%), Motorcycle (down 2.7%), and Personal Products (down 2.6%).

In the US, the Senate on Tuesday passed a sweeping legislation designed to strengthen Washington's hand in its escalating geopolitical and economic competition with China. The bill, which includes about US$250 billion worth of spending, touches on nearly every aspect of the tensed US-China ties. China separately was reported to be preparing to pass an anti-sanctions law of its own.

ECONOMIC NEWS: China Consumer Prices Up 1.3% On Year In May- China consumer prices were up 1.3 percent on year in May, the National Bureau of Statistics said on Wednesday, up from 0.9 percent in April. On a monthly basis, inflation eased 0.2 percent after slipping 0.3 percent in the previous month. The producer price index (PPI) rose 9 per cent from a year earlier, versus 6.8 per cent in April.CURRENCY NEWS: China yuan was up against the dollar on Wednesday, despite softer mid-point fixing by central bank. Prior to market opening, the People's Bank of China (PBOC) set the midpoint rate CNY=PBOC at 6.3956 per dollar, 0.07% softer than the previous fix of 6.3909. In the spot market, onshore yuan CNY=CFXS was changing hands at 6.3949at around late afternoon, 0.1% stronger than the previous late session close at 6.401.