Shanghai stocks rally on RQFII degree
By Ye Zhen |
May 4, 2013, Saturday
|
Print Edition
Print Edition
SHANGHAI stocks rose the most in a week yesterday after China's central bank released a detailed guideline for overseas institutions to invest in the domestic equity market in yuan.
The Shanghai Composite Index jumped 1.44 percent to 2,205.5 points, rebounding from a four-month low on Thursday.
The People's Bank of China unveiled a technical guideline on the Renminbi Qualified Foreign Institutional Investor pilot scheme.
The new guideline indicates China will soon restart the approvals of RQFII quotas, a CITIC Securities report said. Chinese regulators have yet to approve RQFII quotas since January 24. With an untapped quota of 200 billion yuan (US$32.5 billion), analysts said the new approvals will boost the market liquidity.
CITIC Securities Co added 3 percent to 12.86 yuan. Haitong Securities Co jumped 4 percent to 11.20 yuan.
The Shanghai Composite Index jumped 1.44 percent to 2,205.5 points, rebounding from a four-month low on Thursday.
The People's Bank of China unveiled a technical guideline on the Renminbi Qualified Foreign Institutional Investor pilot scheme.
The new guideline indicates China will soon restart the approvals of RQFII quotas, a CITIC Securities report said. Chinese regulators have yet to approve RQFII quotas since January 24. With an untapped quota of 200 billion yuan (US$32.5 billion), analysts said the new approvals will boost the market liquidity.
CITIC Securities Co added 3 percent to 12.86 yuan. Haitong Securities Co jumped 4 percent to 11.20 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
