2024-09-26
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reporter of china business network: chen zhi editor of china business network: yi qijiang
every september 26this the stock market surge that began on september 24 a sign of a long bull run or short-term speculation? a hong kong bank foreign exchange trader told the daily economic news that usually, when overseas capital is about to increase its holdings of chinese assets, the rmb exchange rate will often give the first signal of a rapid rise.
in the early morning of september 25, the offshore usd/rmb exchange rate once regained the integer mark of "7", setting a new high of 6.9942 this year.
according to the above-mentioned trader, the number of overseas hedge funds buying offshore rmb has increased significantly. hedge funds that had previously bought long have added long positions, and some hedge funds have even cut their offshore rmb short positions by 30% to 40% in one go.
more and more overseas investment institutions are bullish on the rmb exchange rate and are also changing their exchange rate hedging trading strategies to increase their holdings of domestic bonds.
"this is also a sign that overseas capital will soon increase its holdings of chinese assets on a large scale," the trader said.
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