Offshore Yuan Heads for Monthly Advance Along With China Shares
- Yuan has rallied 2.1% in January, biggest gain since 2010
- Shanghai Composite recovers after turbulent December
Why Money Keeps Flowing Out of China
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The offshore yuan headed for its steepest monthly gain since September 2010, buoyed by the nation’s efforts to stem capital outflows and clamp down on speculators. Chinese stocks extended their January rally.
The exchange rate in Hong Kong has gained 2.1 percent this month, paring the advance slightly on Thursday, to trade at 6.8330 per dollar as of 4:21 p.m. The Shanghai Composite Index climbed 0.3 percent, taking its gain since Dec. 31 to 1.8 percent. The Hang Seng Index rose for a fourth day, poised for its best month since March.