News Snapshot:
Looming rate cuts Underpinning the trend has been a rare reversal in interest-rate differentials between the US and China. Investor speculation about looming cuts to China’s longer-term policy rates intensified on Tuesday after the central bank unexpectedly lowered its seven-day reverse repurchase rate. The better performance of overseas markets has fuelled solid demand, with a couple of fund managers releasing statements to suspend subscriptions due to possible quota shortages, Mr Fang said. China approved a total quota of $US162.7 billion ($240.4 billion) for QDII as of May 31, according to the latest official data. China Asset Management’s Hang Seng Internet...
