Shanghai exchange repo rate surges the most in 2 months
World-beating stock market in China and rallies in newly listed shares drawing investors
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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.
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