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Forex reserves swell as concerns recede

Foreign exchange reserves rose to their highest in six months in February as growing optimism over US-China trade talks buoyed the yuan, easing worries about capital outflows from the slowing economic growth. While China's economy continues to readjust, analysts believe the risk of strong capital outflows has greatly diminished in recent months as the yuan regained its footing and foreign investors piled back into the country's stock markets. Chinese foreign exchange reserves, the world's largest, rose by $2.26 billion in February to $3.090 trillion, central bank data showed on Thursday, marking the highest level since August 2018.

Brokerages post 44.1% growth in Feb earnings