CNH Tracker-Hong Kong banks cut yuan deposit rates as onshore funds rush in

April 16, 2015 3:40 AM

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HONG KONG, April 16 (Reuters) - Hong Kong banks have started to cut yuan deposit rates following robust southbound trading flows under a stock connect scheme between Shanghai and the former British colony.

The flow of funds into Hong Kong is expected to shore up the shrinking offshore yuan pool, which has been under pressure as the weakness of the Chinese currency had dampened investors' appetite.

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