ANALYSIS: Nothing conventional about Chinese currency slump
There has been a lot of conventional wisdom bandied about over the past few days in relation to China’s loosening of the renminbi peg.
China
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China devalues renminbi for second day
China’s Central Bank has devalued its currency for the second consecutive day, following Tuesday’s biggest depreciation in two decades.
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Younger Chinese investors are confident with risk
Chinese investors in the 18-39 age group prefer high yield products and are more aggressive and confident in their investment choices than older mainland investors, according to a survey report by Legg Mason.
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China Universal sets out European expansion plans
Shanghai-based China Universal Asset Management has established a Luxembourg SICAV from which it plans to launch a series of UCITS funds in the coming months to give European investors access to the Chinese capital market.
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Quantum China cool on Mutual Fund Recognition
Foreign firms planning on a Hong Kong-domiciled product for the Mutual Recognition of Funds initiative will likely find limited appeal in China, said Anthony Yeung, managing partner and chief executive of Quantum China Asset Management.
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China share slide will not spill over to global markets, says L&G IM
China shares fell further on Tuesday after a huge sell-off at the start of the week, but an equity strategist from Legal & General Investment said it was an “isolated event” which will not significantly impact international markets.
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ANALYSIS: Fool’s gold, or the golden ticket?
Gold fell through the psychological $1,100 per ounce level at the start of this week as prices plunged more than 4% in early European trade on Monday.
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Deutsche AWM launches China sovereign bond ETF
Deutsche Asset & Wealth Management has launched the first exchange-traded fund (ETF) on the European market to provide investors with exposure to China’s domestic sovereign bond market.
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China’s trading freeze may undermine MSCI inclusion
The recent suspension of trading in 1,300 A-share stocks could delay their much-awaited inclusion in MSCI’s emerging market index, fund houses said.
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Hong Kong asset managers jump on mutual recognition of funds initiative
Hong Kong has received 14 applications for products wishing to take part in China’s mutual recognition of funds (MRF) scheme, a new initiative which has loosened the flow of cash between the two regions.
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ANALYSIS: Volatility, bad omens and the dangers of central bank intervention
It is probably a good thing that most investors don’t tend to believe in bad omens.
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China’s market plunge puts economy at risk
The ongoing fall in China’s stock market puts the country’s entire financial system and structural reform agenda at risk, according to Axa Investment Managers and Schroders.