China’s monetary authorities took forceful action against a sliding currency for the first time in nearly eight months on Tuesday, with the country’s state banks acting to put a floor under the yuan even as…
Tagged By finance
Wall Street Cues, Beijing Economic Plans Churn Asian Stock Markets
Asian stock markets waffled Tuesday on Wall Street cues, although Hong Kong and Shanghai gained on market expectations of more economic stimulus from Beijing. Tokyo lost ground, and other regional …
UPDATE 2-China’s yuan firms as state banks step in; PBOC grows wary of decline
China’s yuan firmed on Tuesday after the central bank set its daily fixing stronger than market expectations for the second day in a row, bolstering speculation that authorities were becoming less …
Biden’s protectionism is driving emerging economies into China’s hands
With China as the major sovereign creditor to developing nations , it holds the keys to debt restructuring. China will seek influence in this area and is unlikely to prioritize reforms friendly to Western democratic-capitalism…
Treasury yields nudge higher as China talk spurs riskier behavior
A slightly more risk-positive tone across global markets were reducing demand for sovereign bonds and nudging Treasury yields higher.
Climate finance: China’s Ping An Bank lends US$25 million to Inner Mongolia steel maker to capture carbon emissions
The loan will help fund a pilot carbon capture, utilisation and storage project with Baotou Iron and Steel Group Project aims to reduce carbon-dioxide emissions by 365,300 tonnes per year, equivalent …
China’s yuan firms as state banks step in; PBOC grows wary of decline
By Georgina Lee HONG KONG, June 27 (Reuters) – China’s yuan firmed on Tuesday after the central bank set its daily fixing stronger than market expectations for the second day in a row, bolstering …
The yuan’s plunge against the rival dollar underscores fears that China’s floundering economy will weigh on global growth
Mega-cap companies like Nvidia and Tesla are majorly exposed to China, and there are warning signs that the world’s second-largest economy is slowing.
China censors financial blogger as economic recovery falters
China’s benchmark CSI 300 stock index has also badly underperformed global peers on broad disappointment with the economic rebound, down about 1 per cent year to date, compared with a 13 per cent gain …
Asian stocks, yuan perk up on brighter China prospects
Asian stocks shook off earlier losses on Tuesday, helped by assurances that Beijing would support flagging growth in the world’s second-largest economy, which helped investors shift their focus away …
China’s state banks seen selling dollars offshore to slow yuan drop – sources
China’s major state-owned banks were seen selling dollars in the offshore spot foreign exchange market on Tuesday, four sources with knowledge of the matter said, suggesting authorities’ wanted to …
China Extends Fight Against Weak Yuan as Drops Unsettle PBOC
China took a further step to slow the slide in the yuan, setting its daily reference rate for the managed currency at a stronger-than-expected level for a second day. The People’s Bank of China …
China on course to achieve 5% economic growth target in 2023: premier
China is on course to achieve its five percent target for economic growth in 2023 set by Beijing earlier this year, premier Li Qiang said Tuesday. “For the whole year, we are expected to achieve…
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