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Market review: June 22, 2016

Fang submitted 2016-06-22 16:16:03

Market review:

China stocks rose with SHA rallied about 1%.Investors showed confidence that UK will stay in EU and risk appetite continued to recover.

Research Notes:

Money flowed into Software, Electronics and Finance sectors the most. Konka Group,a household electronics producer, rallied to limit-up for as its non-public offering plan got approved.

CNYUSD facing some selling pressure as DXY strengthened. In commodity market, iron ore and coal led the rally as money outflowed from agricultures for the improvement of weather in US farm areas. The stocks of iron ore of najor harbors of China declined for 3 weeks and the declined supply also supported the price of iron ore despite the closing of some steel mills. As UK voting ‘s due Thursday, the waiting time ‘s quite limited and investors can load some shares of new energy and electronic car sectors when any dip presents with a surprising result, some cyclical stocks could also be a short term bet if the result can weaken DXY.

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