The latest data shows that the exchange rate of the renminbi against the US dollar has risen all the way, and the offshore renminbi has refreshed its intraday low against the US dollar in early Asian trading, and even rose above the 7.20 mark for the first time in intraday trading! This good news has triggered a carnival in the global capital market!
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On May 2, local time, the U.S. dollar index fell 0.25%, while non-US currencies rose across the board. The offshore yuan rose 280 basis points against the dollar to settle at 7.2060. This unexpected move not only made the renminbi once again a sweet spot in the eyes of investors, but also stimulated the crazy surge of Chinese assets!
In the stock market, popular Chinese concept stocks have risen sharply, with the Nasdaq China Golden Dragon Index rising by 6.01 percent! The Wind China Concept Stock 100 Index has risen by as much as 7 percent! Alibaba, Bilibili and other well-known companies have performed eye-catchingly, and their stock prices have soared!
This frenzy of Chinese assets has never been more popular, and it has not only made investors roll in profits, but also increased the vitality and confidence of the market! Analysts from all walks of life have said that the appreciation of the renminbi is a clear signal of China's sustained economic development and is also an important manifestation of the positive conditions in the global market. As an investor, of course, you can't miss this golden land of opportunities!
China's assets are emerging with a majestic momentum, are you still waiting? Say goodbye to the US dollar and welcome the great era of the renminbi! Follow in the footsteps of global investors and enjoy rich returns together!