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Asia-Pacific News China

  • SHANGHAI, May 24- China's yuan eased against the U.S. dollar on Wednesday on some corporate demand for the greenback, while traders shrugged off rating agency Moody's decision to cut its sovereign rating on China. Moody's Investors Service downgraded China's long-term local and foreign currency issuer ratings on Wednesday, citing expectations the...

  • *S&P rates China one notch higher, on negative watch. SHANGHAI/ BEIJING, May 24- Moody's Investors Service downgraded China's credit ratings on Wednesday, saying it expects the financial strength of the world's second-biggest economy will erode in coming years as growth slows and debt continues to rise. The ratings agency also changed its outlook for China to...

  • China ratings downgrade 'has no major impact'

    Adrian Zuercher, UBS, says he remains overweight on China due to the policy flexibility of the government and earnings growth.

  • BEIJING— The Moody's ratings agency on Wednesday cut China's credit rating due to surging debt, prompting a protest by Beijing and highlighting challenges faced by communist leaders as they overhaul a slowing economy. Moody's Investors Service cut Beijing's long-term local currency and foreign currency issuer ratings by one notch to A1 from Aa3.

  • BEIJING— China is shutting down its only undersea coal mine, state-run newspapers reported Wednesday, as the government struggles to rein in rising production that threatens to frustrate a planned shift to cleaner-burning fuels. China is the world's largest coal consumer. Japan, Britain and Canada also have operated undersea coal mines.

  • BEIJING— Chinese stocks sank Wednesday after Moody's cut Beijing's government debt rating and other Asian markets rose following Wall Street's advance. CHINESE DEBT: Moody's Investors Service downgraded the Chinese government's rating for long-term local currency and foreign currency debt, citing China's overall rising debt. The change reflects an...

  • SHANGHAI, May 24- China stocks fell more than 1 percent before recouping some of the losses incurred on Wednesday morning in the wake of Moody's downgrading of China's debt ratings- aggravating a market already worried by tighter regulation, rising borrowing costs and signs of an economic slowdown. Moody's Investors Services downgraded China's long-term...

  • 'China's banking sector is a unique beast'

    Whether or not the credit ratings downgrade of China was imminent remains debatable, says Vishnu Varathan, Mizuho Bank.

  • HONG KONG— Credit rating agency Moody's has cut its credit rating for China, citing slowing economic growth and rising debt that it says will erode the country's financial strength. Moody's said Wednesday that it is downgrading its long-term rating for China one notch to A1 from Aa3. Moody's said Beijing's economic reform program won't suffice to offset the...

  • Moody's downgrade: Reality check for China

    While it might not be calamitous, investors will probably have to get used to growth levels that aren't supported by debt, says Joe Magyer, Lakehouse Capital.

  • *Aussie, China shares down after Moody's downgrade. TOKYO, May 24- China's main stock index fell one percent and the Australian dollar slipped on Wednesday after Moody's cut its sovereign credit rating on China. The Aussie fell as much as 0.3 percent to $0.7452 soon after the Moody's announcement downgrading China to A1 from Aa3.

  • China's debt will continue to grow, says Moody's

    Marie Diron from Moody's Investors Service talks about the outlook of China after the country's rating got downgraded.

  • Govt measures 'not quite enough' to contain risks in China, says Moody's

    Marie Diron from Moody's Investors Service explains the factors behind China's downgrade from Aa3 to A1.

  • How Trump is affecting Chinese manufacturers

    Manufacturing companies in sectors like footwear will face the risk of having to relocate to the U.S., says Gerhard Flatz, MD of KTC.

  • SHANGHAI, May 24- Moody's Investors Services downgraded China's long-term local and foreign currency issuer ratings on Wednesday, citing expectations that the financial strength of the world's second-biggest economy would erode in the coming years. "The downgrade reflects Moody's expectation that China's financial strength will erode somewhat over...

  • China ratings downgrade: 'I wouldn't underestimate China'

    Jim McCafferty, Nomura, weighs in on Moody's downgrading China's credit rating and its ability to control its balance sheet.

  • MELBOURNE, May 24- London copper edged lower on Wednesday after credit ratings agency Moody's downgraded China due to its massive debt, with muted trade expected ahead of minutes of a Federal Reserve meeting later in the session. *CHINA: Moody's cited the growing leverage in China for the downgrade, and warned about slowing economic growth.

  • SHANGHAI, May 24- Moody's Investors Services downgraded China's long-term local and foreign currency issuer ratings on Wednesday, citing expectations that the financial strength of the world's second biggest economy would erode in the coming years. "The downgrade reflects Moody's expectation that China's financial strength will erode somewhat over the...

  • *India to tax hybrids higher than EVs from July 1. *Policy uncertainty is forcing car makers to delay plans in India. India also plans to impose higher taxes on hybrid vehicles compared with electric, under a new unified tax regime set to come into effect from July 1, upsetting car makers like Maruti Suzuki and Toyota Motor.

  • FCA delivering 100 uniquely-built Chrysler Pacifica Hybrid minivans to Waymo (formerly the Google self-driving car project) for their self-driving test fleet.

    Get ready for cheap oil and self-driving cars sooner than you may think, CNBC's Oriel Morrison reports.