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CHINA PRESS: The Chinese yuan may further appreciate, but its current gain
doesn't change China's objective of keeping a stable exchange rate, China
Securities Journal said in a commentary Wednesday.
- Yuan's gain since mid-Dec is due to the weakening of the U.S. dollar: paper
- Market expectation and investors' behaviors may accentuate the short-term
- Difficult for yuan to repeat last year's 6% gain; outlook is mixed: newspaper
***TAKEAWAY: The commentary by the official security newspaper suggests the
central bank will seek to maintain stability of the yuan and guide market
expectation to minimize high volatilities of the yuan.