How Will US PMIs Affect the USD?
The US Markit will publish Flash Manufacturing and Flash Services PMIs (purchasing managers' indices) on June 23 at 16:45 GMT+3.
Equity exposure is trimmed by China’s funds amid tighter regulation
In China, fund managers have already trimmed the suggested equity exposure for the next three months to the lowest value in 6 months. It’s because of surging risk appetite amid tightening government regulations to tame speculation.
This week, China's government held the 40th study gathering on national financial stability and security this week. Xi Jinping, the country’s president delivered a speech on financial stability. It undoubtedly sends a crucial signal to back the ongoing tightening of financial regulation as well as enforcement, as some financial experts state.
The equity allocations were reduced to 76.3% by the fund managers, down from 79.4% a month earlier, according to a survey of eight China-based fund managers.
By the way, the fund managers have increased the suggested bond allocations for the upcoming three months to about 11.3% from the previous month’s 7.5%.
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