Faba: Maintain a positive outlook on the Chinese stock market and expect the RMB to USD exchange rate to rise to 6.80 by the end of this year.

The latest report from BNP Paribas in Paris, France, pointed out that the Chinese Yuan exchange rate has significantly appreciated over the past six months, but is not expected to have a significant impact on the equity returns, valuations, and stock performance of Chinese listed companies, mainly because the proportion of overseas income to Chinese stocks is still relatively small and concentrated. The bank maintains a positive view on the Chinese stock market, continuing to favor several sub-industries in the technology, materials, and industrial sectors; and predicts that the RMB to USD exchange rate will rise to 6.80 this year.