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...Caixin, a well-respected Chinese financial magazine, reported this week that Zhang Guoyuan, a senior official with another futures exchange, had also been detained on suspicion of economic crimes....
...“Speculation that the October CPI figure was 4.4 per cent is the main reason that’s driving the market down today,” said Tu Hai, of Guoyuan Securities....
...However, despite recent fluctuations in sentiment, Yu Wei, of Guoyuan Securities said that investors were generally warming towards Chinese banks, whose “valuations are at historic lows.”...
...indicators – high loan growth in February and the rise of the PMI – and the market is also anticipating a further stimulus plan to be announced at the National People’s Congress,” said Simone Wang, of Guoyuan...
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