Investment Daily Note

Market Highlights

People’s Bank of China verbally supported RMB by saying that the depreciation of the RMB exchange rate in the short term is unlikely to be more than 10%, the RMB exchange rate bias correction has been basically completed and the RMB is still a strong currency in long term. We expect the central parity ranging from 6.3755 to 6.4267 today.

According to China Securities Depository and Clearing Co., Ltd, the number of new investors last week reduced by 22% WoW to 265,400, a record low. Investment sentiment is yet to recover.