Funds pick domestic Asian plays after yuan move

Newswire

By Umesh Desai HONG KONG, July 25 (Reuters) - Banks, utilities and property stocks are some of the Asian domestic plays that fund managers see as winners after China revalued the yuan in a move seen boosting currencies across the region. China, the world's seventh-largest economy, scrapped a decade-old peg to the dollar on Thursday and revalued the yuan by 2.1 percent to 8.11 per dollar, linking it to a basket of currencies. Malaysia immediately dropped its 7-year-old peg of 3.8 ...

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