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CNY/ CNH Set Over-6-mth Highs; G Sachs Says 1% Appreciation of USD/ RMB Can Boost CN Stock Mkt by 3%
The USD Index weakened, while non-US currencies inclined collectively. The exchange rate of RMB against the USD in both onshore and offshore markets exceeded the 7.17 mark this mor...
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CNY/ CNH Set Over-6-mth Highs; G Sachs Says 1% Appreciation of USD/ RMB Can Boost CN Stock Mkt by 3%
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The USD Index weakened, while non-US currencies inclined collectively. The exchange rate of RMB against the USD in both onshore and offshore markets exceeded the 7.17 mark this morning (26th), hitting a high for over half a year since mid-November 2024.

USD/CNY hiked to 7.1674, and last elevated 65 bps to 7.1733, while USD/CNH rose to 7.1608, and last mushroomed 22 bps to 7.1693.

Related NewsM Stanley's Latest Focus List for H Shrs, CN ADRs, A Shrs (Table)
Chinese stocks are expected to benefit from a further gains in RMB, which has shown resilience amid the US-China trade dispute, according to a report by a team of Kinger Lau, Chief China Equity Strategist at Goldman Sachs.

A 1% appreciation of RMB against USD could boost Chinese equities by 3%, thanks to factors such as an improved corporate profit outlook and increased foreign capital inflows, the broker added.

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