China's forex reserves rise in October for first time in six months

China’s foreign-exchange stockpile rose from US$3.51 trillion to US$3.53 trillion as of the end of October, Bloomberg reported, citing data released by the People’s Bank of China. The uptick of US$20 billion followed drops in August and September of US$93.9 billion and US$43.3 billion, respectively. The rebound after August’s plunge suggests that capital outflow pressures are easing amid apparent rebounds in China’s stocks and currency: The Shanghai Composite Index rose 10.8% in October, the best performance since April, as the government eased monetary policy to spur economic growth. The onshore yuan rose 0.6% as of October’s end, the biggest gain in seven months.