China Stocks Market Analysis(12 August)

China stocks mixed after oscillating between gains and losses on Tuesday with an even heavier volume. PBOC unexpectedly devalued the yuan by nearly 2 percent in order to make it more market-oriented. After taking the initiative to release the depreciation pressure, the central bank said there would be some other moves following to give the market a bigger role in deciding the exchange rate, making investors expect more declines and thus the eagerly awaited revitalization of the weakened export. The benchmark Shanghai Composite Index edged 0.01 percent down to 3927.91. Shenzhen Component Index inched 0.15 percent up to 13329.09. The gauge tracking ChiNext stocks slid 0.29 percent to 2698.91.