Shanghai exchange repo rate surges the most in 2 months
World-beating stock market in China and rallies in newly listed shares drawing investors
Shanghai
THE interest rate for overnight loans on the Shanghai Stock Exchange on Wednesday surged the most in two months on increased demand for funds from initial public offerings (IPOs).
A world-beating stock market in China and rallies in newly listed shares are drawing investors, with a Bloomberg survey showing 2.8 trillion yuan (S$603.5 billion) will be locked up for 20 sales through Thursday. The biggest impact would be on Wednesday, China International Capital Corp analysts led by Hanfeng Wang wrote in a report last week.
