Shanghai Composite Index Sharp Rise, 0.37%

Shanghai Composite Index 3333.16 (+12.27, +0.37%)
Shenzhen Ingredient Index 13657.03 (+120.86,+0.89%)
Entrepreneurship Index 2769.03 (+32.52, +1.19%)

China’s major stocks closed higher on the strength of the pharmaceutical bio sector and trading volume of 1 trillion yuan.

The Shanghai Composite Index ended at 3333.16 points, up 0.37% from the previous trading day. The propaganda index rose 0.89% to 13657.03 points. In addition, the start-up index was 2769.03 points, up 1.19% from the previous day. In addition, the trading value of Shanghai and Shenzhen shares exceeded 1 trillion yuan, recording 5406 billion yuan and 67.8 billion yuan, respectively.

On the same day, the strength of the pharmaceutical bio-sector, along with the’second quarter earnings earnings surprise’ of the health care manager Yak Myung-kang (·603259), has recently entered into phase 3 clinical trials by Chinese pharmaceutical company Sinovac. It is understood that good news such as news acted positively.

By sector, the pharmaceutical, bio, and white wine (high-volume) industries showed a sharp rise, while the insurance and real estate sectors showed a downward trend. The index composed of large stocks rose. The Shanghai 50 Index (SSE50) and Shenzhen (CSI) 300 Index rose 0.14% and 0.50%, respectively.

Overseas funds showed an inflow tax. According to the Securities Times, the amount of North Korean box funds (A capital investment through Hong Kong and Hong Kong) that entered the stock market on that day amounted to about 4.07 billion yuan.

Meanwhile, the People’s Bank announced on the day that the base exchange rate against the dollar was 0.21% lower than the previous trading day (the value of the yuan was raised) to 6.9718 yuan.

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China's major stocks closed higher on the strength of the pharmaceutical bio sector and trading volume of 1 trillion yuan.

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