China’s markets on the march higher
China's markets last night ripped higher by 3.06%, having now moved 17.8% since November's low and haven't closed this high since last June.[caption id="attachment_64488" align="alignright" width="300" caption="The Shanghai Stock Exchange, Pudong"] [/caption]
There are rumors of a GDP forecast of 8% vs. the current consensus of 7.7%, along with plenty of noise about China seeking an increased quota of foreign investors in its markets by a factor of ten times to increase Renminbi Foreign Qualified Institutional Investors (RQFII)
There is also talk about the People's Bank Of China looking at opening up restrictions to allow domestic investors to participate in international capital markets; thus positive for reform overall.