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The segment that has recently lagged inflation (after-tax returns from the money-market funds) still dominates.
Firstly, based on the long-term average real trade-weighted exchange value and, secondly, based on its relative strength against the other resource-based currencies.
Offshore investors remain bullish on the outlook for equities investing some $124bn in the first quarter of this year according to the latest global unit trust figures.
RMB AM and Business Day reports that the local currency was testing a key support level in the face of offshore selling, while bonds were steady after a dramatic rally sparked by benign producer price index figures.
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