The Mainland China share market finished lackluster session slight higher on Friday, 18 June 2021, after the White House signalled direct talks between US President Joe Biden and Chinese President Xi Jinping were on the cards. However, market losses capped amid worries over tensions between Beijing and the West after China denounced on Monday a joint statement by the Group of Seven leaders that had scolded Beijing over a range of issues as a gross interference in the country's internal affairs.

At closing bell, the benchmark Shanghai Composite Index edged down 0.01%, or 0.51 point, to 3,525.10. The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.81%, or 19.21 points, to 2,378.61. The blue-chip CSI300 index rose 0.01%, or 0.57 point, to 5,102.46.

The best performing sectors in the Shanghai Stock Exchange were Soft Drinks (up 6.8%), New Energy Power (up 6.5%), Consumer Electronics (up 6.4%), Automobile (up 6.2%), and Motorcycle (up 6.1%), while the worst performing sectors were Internet Retail (down 3.9%), Oil & Gas Equipment & Services (down 3.6%), Oil & Gas Exploration & Production (down 3.5%), Household Products (down 3.2%), and White Liquor (down 2.7%).

The best performing sectors in the Shenzhen Stock Exchange were Soft Drinks (up 8%), Industrial Conglomerates (up 6.1%), Automobile (up 5.8%), Rubber (up 4.9%), and Rare Metals (up 4.9%), while the worst performing sectors were Household Products (down 2.9%), Coal (down 2.7%), Oil & Gas Drilling (down 2.5%), Telecom Value Added Service (down 2.5%), and IT Outsourcing Services (down 2.3%).

CURRENCY NEWS: China yuan was up against the dollar on Friday, despite weaker mid-point fixing by central bank. Prior to the market opening, the People's Bank of China (PBOC) set the midpoint rate CNY=PBOC at 6.4361 per dollar, 0.1% weaker than the previous fix of 6.4298. In the spot market, onshore yuan CNY=CFXS was changing hands at 6.4457, firmer by 0.05% than the previous late session close.

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