Hard Sell? Talk of a stronger yuan is raising markets... and eyebrows
CHINESE A-SHARES were sharply higher today, with the benchmark Shanghai Composite Index up 2.90% at 2,586.21 and the Shenzhen index jumping by an even newsier 3.44%.
Meanwhile, shares in Hong Kong added 0.74% to finish today at 20,286.71.
However, rumblings of a decided lack of substance, specifics and a lack of action related to Beijing’s three-day old announcement that it would liberalize the yuan-dollar exchange rate are beginning to temper market enthusiasm somewhat. Read more...
