Chinese walker

  China shares fell in February with the H share and MSCI China indices down 3.3% and 1.7% respectively. Concerns that the central government may introduce measures to control speculation in the domestic stock market in anticipation of the annual National People’s Congress meeting triggered the selloff. China financials underperformed the market on profit taking and the People’s Bank Of China’s decision to absorb excess liquidity by increasing the reserve requirement ratio by 0.5% to 10% just before the week-long Chinese New Year holiday. Commodity stocks went up in February on global price rebound.Investors’ focus remained on the newly listed IPOs.

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Since three years foreign exchange reform, Renmimbi’s two year appreciation terminated this year. In 2008 under the turmoil of global finance and the difficulties of domestic economy, the tendency of Renminbi exchange rate has undergone many twists and turns. Up to yesterday, the appreciation of Renminbi to US dollar hah reached by 6.86%. 

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