At close of trade, the benchmark Shanghai Composite Index advanced slightly 0.09%, or 2.83 points, to 3,284.29. The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.93%, or 20.03 points, to 2,175.59. The blue-chip CSI300 index was up 0.18%, or 7.84 points, to 4,321.46.
China's monthly trade surplus soared to a record $97.9 billion in June as export growth accelerated. Exports rose 17.9% to $331.2 billion, up from May's 16.9%, customs data showed Wednesday. Imports rose just 1% to $233.3 billion in a sign of weak domestic demand. With almost no growth in imports, China's global trade surplus swelled by 90% compared with a year ago.
CURRENCY NEWS: China's yuan softened against the U.S. dollar, despite firmer mid-point fixing by central bank, as concerns over fresh COVID-19 outbreaks offset optimism from the country's trade data.
Prior to market opening, the People's Bank of China (PBOC) set the midpoint rate CNY=PBOC at 6.7282 per dollar, 0.01% firmer than the previous fix at 6.7287. In the spot market, the onshore yuan CNY=CFXS was changing hands at 6.259 at midday, 0.03% weaker than the previous late session close.
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