FXStreet (Guatemala) – Analysts at the Bank of Tokyo-Mitsubishi UFJ, Ltd explained that a few weeks ago they thought there might be a fighting chance Chinese stocks get added into the MSCI EM Index by year-end 2015. Now?
Key Quotes:
“Fat chance; not after China has made a mockery of markets. But – and this is the big BUT – foreign buyers are not final arbiters of price on China’s bourses.”
“And now, they probably won’t be for the near future either. We agree with others that with official desires so bald this increases onus to keep the exchange rate stable. And so far there is no evidence tight control over the exchange rate has ended.”
(Market News Provided by FXstreet)