Shanghai, South Korea and Australia also retreated. China’s central bank allowed the yuan’s exchange rate to sink below the politically sensitive level of seven to the U.S. dollar. That level has no … ( read…
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Oil Could Plunge By $30 If China Restores Iranian Oil Imports – OilPrice.com
Should China decide to defy the latest U.S. tariff … hit and plunge by as much as $20-$30 a barrel, according to Bank of America Merrill Lynch cited by CNBC. Early on Monday, WTI Crude…
Lashing back, China lets yuan drop, halts US farm purchases
He added, “This is a major violation which will greatly weaken China over time.” China’s central bank blamed the yuan’s drop on “trade protectionism” — an apparent reference to Trump’s threat last … ( read…
China lets yuan break key 7 level for first time in decade as trade war worsens
Some analysts said the yuan move could unleash a dangerous new front in the trade hostilities – a currency war. The People’s Bank of China (PBOC) provided the early impetus for yuan bears by setting…
Fears of China Capital Flight Hang Over a Newly Sliding Yuan
Issuance so far this year is a record $138 billion. “Capital flight is still a major concern,” said Fraser Howie, who has two decades of experience in China’s financial markets and co-wrote the 2010 ……
China’s yuan devaluation has investors ‘puking stocks’
China on Monday surprised global markets by letting the yuan … “We won’t re-test the December lows,” said Mike Piershale, president of Piershale Financial Group. … ( read original story …)
China will deepen regional financial reforms, lower funding costs
BEIJING (Reuters) – China will deepen its regional financial reforms, using various policy tools to lower corporate funding costs, especially for small firms, Chen Yulu, a vice governor of the … ( read original story…
Flex says China jobs impacted after Huawei row
Chinese financial magazine Caixin reported late on Sunday that some 10,000 Flex jobs in China were expected to be cut as two major factories in Changsha and Zhuhai had stopped work due to its row…
Tumble by China’s yuan sends most Asian currencies into a tailspin
The yuan sank nearly 1.5% to 7.042, breaching the key level for the first time since the global financial crisis in 2008. The closely-managed currency’s move lower sets the stage potentially for … ( read…
China’s yuan goes through 7 to the dollar to an 11-year low
LONDON — China let its yuan weaken below 7 yuan per … floor to its lowest in the onshore market since the 2008 global financial crisis. In offshore markets, the yuan fell to its weakest…
China’s yuan falls below sensitive level of 7 to U.S. dollar
Trump rattled financial markets Thursday by announcing plans for 10% tariffs on an additional $300 billion of Chinese goods, effective Sept. 1. That would extend penalty duties to almost all U.S. … ( read original…
Chinese currency falls to financial crisis levels on trade war woes
China’s currency the renminbi has fallen to its lowest level against the dollar since the financial crisis, crashing through the seven-per-dollar threshold after an escalation in the US-China trade … ( read original story …)
China c.bank says will deepen regional financial reforms
BEIJING — China will deepen its regional financial … a vice governor of the People’s Bank of China, said on Monday. Chinese policymakers have pledged to maintain support for the slowing … ( read original…
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