bullish
China Strategy: Re-Assessing the Rmb Exchange Impacts
620 Views08 Aug 2024 07:30
Companies hit by Rmb depreciation in FY23 may see gains from potential Rmb appreciation in 2H24 and FY25, while previous gainers could become losers.
What is covered in the Full Insight:
- Introduction
- Rmb Depreciation Impact in FY23
- Potential Beneficiaries in 2H24 and FY25
- Potential Losers in 2H24 and FY25
- Conclusion
Boomeranged on Thu, 19 Sep 2024 08:09
With the US kick-starting the lower interest rate cycle with a 50bp cut overnight and indicated an expectation of an aggregate further 50bp cut in the next two FOMC meetings, pressure on the USD will increase. We see this as setting the stage for a stronger Rmb as the interest rate differential narrows. As such, we should look at the beneficiaries and victims of a stronger Rmb.
SUMMARY
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Full Insight
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Osbert Tang, CFA
HK/China Equity Long-Short
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