High-net-worth investors hedge out portfolios after RMB fall
China investors look to lock in profits in the face of declining yuan and are also aiming to substantially increase their global investment portfolios
The depreciation in the yuan against the US dollar over the past four months has resulted in different responses from high-net-worth clients, with foreign investors actively undertaking hedging measures and Chinese players switching to more foreign currency-denominated assets, according to market experts.
Since the RMB onshore spot rate hit a record high of 6.05 on Jan 14, the Chinese currency has fallen around 3% against the dollar with USD/CNY standing at 6.24 as of May 29. The unexpected
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