China
China devalues renminbi for second day
China’s Central Bank has devalued its currency for the second consecutive day, following Tuesday’s biggest depreciation in two decades.
Younger Chinese investors are confident with risk
Chinese investors in the 18-39 age group prefer high yield products and are more aggressive and confident in their investment choices than older mainland investors, according to a survey report by Legg Mason.
China Universal sets out European expansion plans
Shanghai-based China Universal Asset Management has established a Luxembourg SICAV from which it plans to launch a series of UCITS funds in the coming months to give European investors access to the Chinese capital market.
Quantum China cool on Mutual Fund Recognition
Foreign firms planning on a Hong Kong-domiciled product for the Mutual Recognition of Funds initiative will likely find limited appeal in China, said Anthony Yeung, managing partner and chief executive of Quantum China Asset Management.
China share slide will not spill over to global markets, says L&G IM
China shares fell further on Tuesday after a huge sell-off at the start of the week, but an equity strategist from Legal & General Investment said it was an “isolated event” which will not significantly impact international markets.