Chinese stocks recovered but money market remains tight

Note: This section contains information in English only.
Source: Reuters
© Scanpix/Reuters
Chinese stocks recovered some of its recent heavy loses, which occurred due to the cash crunch last week. Chinese authorities allowed rates to rise and liquidity to tighten and intervened only when investors started worrying about potential financial crisis. However, the rates remain above long-term average. The weighted average of seven-day repurchase agreement rate stands at 6.74%, much higher than the historical average of 3-4%.
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Thu, 27 Jun 2013 09:24:23 GMT

Single currency drops on Draghi statement

The Eurozone's currency depreciated near the one-month low by slipping below $1.30 as the ECB president Draghi stated that monetary stimulus will remain accommodative. The 17-nation currency fell 0.5% to $1.3012 as of 5 p.m. in New York, touching $1.2985, the lowest level since June 3, while it slid 0.6% to 127.17 Japanese Yen.

Thu, 27 Jun 2013 09:02:34 GMT

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