Goldman Sachs Group Inc and UBS AG are missing out on Chinese initial public offerings (IPOs) as local investment banks lead record numbers of small companies to sell shares in Shenzhen.
The central parity rate of the yuan, China's currency Renminbi (RMB), gained to a fresh high Thursday at 6.7181 per US dollar, according to the data released by the China Foreign Exchange Trading System.
Hong Kong stocks closed up 29. 60 points, or 0.14 percent, at 21,725.64 Wednesday.
Chinese equities declined on Wednesday, led by property developer shares on speculation that the government might announce new measures to cool the real estate market.
The ChiNext Index, launched by the Shenzhen Stock Exchange (SSE) on June 1, fell 3.99 percent, or 41.12 points, to close at 990.10 on Wednesday.
China's stock index futures closed lower Wednesday with the contract for September, the most actively traded, falling 1.64 percent from the previous trading day to end at 2,920.0 points.
China's national pension fund will invest in overseas funds of funds (FOF) by the end of the year, said Dai Xianglong, chairman of the National Council for Social Security Fund, the Shanghai Securities News reported Wednesday.
The central parity rate of the yuan, China's currency Renminbi (RMB), strengthened to a new record Wednesday at 6.725 per US dollar, according to the data released by the China Foreign Exchange Trading System.
The yuan surged to the strongest level since 1993 on speculation the government will allow faster appreciation to head off US trade sanctions as China's economy improves.
Hong Kong stocks closed up 37. 69 points, or 0.17 percent, at 21,696.04 Tuesday.
China's two leading Internet video sharing sites, Youku and Tudou, are in a race to be the first to make an offshore IPO to raise funds to compete against each other, Bloomberg and Reuters reported Tuesday.
The ChiNext Index, launched by the Shenzhen Stock Exchange (SSE) on June 1, fell 1.08 percent, or 11.26 points, to close at 1,031.22 on Tuesday.