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Article: QFIIs IN CHINA BENEFIT FROM YUAN APPRECIATION.
- Article from:
- AsiaPulse News
- Article date:
- October 13, 2006
CopyrightCOPYRIGHT 2006 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BEIJING, Oct 13 Asia Pulse - Foreign-owned investment funds were more lucrative than domestic ones in September, with the appreciation of the Chinese currency contributing to one sixth of their yields, Xinhua-run Shanghai Securities News reported on Thursday.
Funds managed by qualified foreign institutional investors (QFIIs) gained an average profit of 5.77 per cent in September, compared with 5.08 per cent of monthly profit made by domestic funds, the paper reports.
The higher yields of the foreign-owned funds partly derived from the appreciation of yuan, which in September gained 0.63 per cent against the US dollar, 0.78 per cent against the Hong Kong ...