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Market Update : 
Yuan at Record High, Energy Stocks Rise
Author: 123jump.com Staff
123jump.com
Last Update: 7:24 PM EDT June 06 2008



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Yuan rose to a record high against the U.S. dollar. Yuan rose to 6.923 to a dollar. The chinese currency gaied 5.5% so far this year after rising 6.9% in 2007. Rising crude oil price lifted stocks in the energy sector and dragged airlines stocks lower. China''s fiscal revenue rose 29.4% from the year ago and corporate income tax revenue declined 12%.

 

 

 

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