(Bloomberg) — Sign up for Next China, a weekly email on where the nation stands now … Designation as a currency manipulator comes with no immediate penalties but can rattle financial markets. … ( read…
FINANCE
World stocks retreat as China-US jitters set in
SINGAPORE — World markets were broadly lower Wednesday on expectations that a trade dispute between China and the United States would simmer and possibly weigh on growth. Investors are digesting … ( read original story…
China’s First Bank Seizure in 20 Years Spooks Investors
(Bloomberg) — The Chinese government’s first seizure of a bank in more than two decades piles fresh pressure on shares of small lenders that already trade at rock-bottom valuations. A Bloomberg index … ( read…
Traders worry as hopeful Bank of Canada officials meet this week
The central bank will reveal its latest policy decision Wednesday morning. The pesky trade dispute seems to be the wild card here. And it’s little wonder why: The U.S. and China are Canada’s biggest ……
China confident of keeping yuan stable: central bank governor
SHANGHAI (Reuters) – China is confident of keeping the yuan basically stable at reasonable and balanced levels, Yi Gang, the governor of the People’s Bank of China (PBOC) told a meeting recently, … ( read…
China shares falter on fragile sentiment; rare earth firms soar
Chinese money rates rose following the takeover, but have since retreated. China’s central bank made its largest daily net cash injection into China’s banking system in more than four months … ( read original story…
China regulator urges banks to check ties to Baoshang Bank – sources
SHANGHAI, May 29 (Reuters) – China’s banking regulator has urged lenders to conduct thorough checks and report their business ties with troubled Baoshang Bank, as the authorities seek to head off … ( read original…
Baoshang takeover spotlights China financial system perils
“Is Baoshang part of a corruption-related clean-up or the start of what could become a series of bank failures?” J Capital, an independent research house focused on China, wrote in a research note. … (…
China’s first bank takeover since 1998 flags hidden credit risk
The Chinese authorities on Friday took over Baoshang Bank, a private bank based in the northern region of Inner Mongolia, citing its “severe credit risks.” It was the first government takeover of a … (…
Markets play ‘wait and see’ on Canadian bank stocks
Bank of Nova Scotia released its quarterly profit results early … “We are materially lowering our sales and EPS estimates below consensus as China represents 18% of Apple sales which we believe … ( read…
China Mulls Coal Price Cuts to Ease Burden on Power Plants
(Bloomberg) — China is seeking to lower domestic coal prices to aid power producers, and has proposed that miners bring the benchmark grade to below 600 yuan ($87) a ton, according to people with ……
Will China dump U.S. bonds as a trade weapon? Not so fast
The trade war between Beijing and Washington has stoked concern in financial markets that China might opt to weaponize its holdings of more than $1.1-trillion worth of U.S. Treasuries in retaliation … ( read original…
Apple iPhone sales in China could be cut by 50% thanks to Trump’s trade war
Clearly, Apple’s standing in China amidst the trade war is weighing on the minds … could be down another 15% amid a full-fledged valuation reset. Read the latest financial and business news from … (…
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