The yuan slid the most in more than two months against the US dollar on Tuesday after China removed the “counter-cyclical” factor from the reference rate formula. Photo: Reuters

State Street says China’s move to manage yuan will lift old economy stocks

State Street expects Hang Seng Index to go past its all-time high when inflows from the mainland through the stock connect programmes reach 10 per cent of Hong Kong’s total market turnover from about 7.5 per cent now

Topic |   Stocks

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The yuan slid the most in more than two months against the US dollar on Tuesday after China removed the “counter-cyclical” factor from the reference rate formula. Photo: Reuters
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