February 16, 2011
By Bloomberg News June 20 (Bloomberg) — China’s pledge to make the yuan more flexible may boost shares denominated in the currency when markets open tomorrow, China International Capital Corp. and Societe Generale SA said. “If it leads to appreciation for the yuan, it’s good news for the market,” Hao Hong , global equity strategist for CICC in Beijing, said in a report today
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February 16, 2011
By Bloomberg News June 21 (Bloomberg) — China’s airlines and commodities companies, which would benefit from yuan gains that reduce the cost of their overseas purchases, may lead stock gains after the central bank signaled an end to the currency’s peg to the dollar. The People’s Bank of China pledged to make the yuan more flexible, while ruling out a one-time revaluation of the currency that’s been held at about 6.83 yuan per dollar since mid-2008. A stronger yuan would help airlines reduce dollar- denominated fuel bills and debt incurred from buying Boeing Co.
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