China ripped last night higher by 3.06% and has now moved 17.8% since the November’s low and hasn’t closed this high since last June.
The Shanghai Stock Exchange, Pudong
Rumors of a GDP forecast of 8% vs. current consensus of 7.7%, along with plenty of noise about China seeking an increase quota of foreign investors in China’s markets by a factor of 10 times to increase Renminbi Foreign Qualified Institutional Investors (RQFII)
There is also talk about the PBoC looking at opening up restrictions to allow domestic investors to participate in International capital markets, thus positive for reform overall.