January 23, 2025 05:28 GMT
CHINA: Country Wrap: China To Attract Long-term Funds For Stock Market
CHINA
- China will steadily increase the proportion of A-share investment by medium-and long-term funds by setting an investment ratio and extending the assessment period, Wu Qing, chairman of the China Securities Regulatory Commission told reporters on Thursday. (source: MNI – Market News)
- US firms in China are less confident in the country's market growth and more pessimistic on U.S.-China relations this year, an American Chamber of Commerce in China survey showed on Thursday. In total, 68% of firms expected market growth in 2025, down from 76% in last year’s poll, while 27% of companies held pessimistic views on China-U.S. relations, up from 17% last year. . (source: MNI – Market News)
- The news was good for equities with all major bourses up. Hang Seng +0.31%, CSI 300 +0.89%, SHANGHAI +1.17%, SHENZHEN +0.99%.
- CNY: Yuan Reference Rate at 7.1708 Per USD; Estimate 7.2845
- Bonds: a modest softening in CGB 10YR at 1.669% (+0.5bp).
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