News Snapshot:
China is preparing to grant additional quota for funds to invest in securities overseas, Caixin reported, a move that would allow more capital to flow out of the country. The Qualified Domestic Institutional Investor quota will be bumped by $10 billion in the near term, Caixin said on Thursday, citing an unidentified official from the State Administration of Foreign Exchange. An earlier version of the story had said the QDII would be increased by between $2 billion and $3 billion every quarter, with a cap for annual increases kept at $10 billion. Caixin has since removed those references. The foreign-exchange...
