Mainland China share market finished session lower on Tuesday, 26 September 2023, extending yesterday's losses, as risk sentiment dampened amid geopolitical tensions and on caution ahead of a week-long National Day holiday that begins on Friday.
At close of trade, the benchmark Shanghai Composite index was down 0.43%, or 13.33 points, to 3,102.27. The Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 0.52%, or 9.89 points, to 1,894.68. The blue-chip CSI300 index decreased by 0.58%, or 21.71 points, to 3,692.89.
U.S. President Joe Biden's administration on Monday imposed new trade restrictions on 11 Chinese and five Russian companies, accusing some of supplying components to make drones for Russia's war effort in Ukraine.
CURRENCY NEWS: China's yuan was little changed against the dollar on Tuesday as flat mid-point fixing by the central bank. Prior to market opening, the People's Bank of China (PBOC) set the midpoint rate CNY=PBOC at 7.1727, unchanged from the previous day fix of 7.1727. In the spot market, the onshore yuan CNY=CFXS was changing hands at 7.3103 at midday, roughly flat with the previous late session close.
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