Stocks are deep in the red today and China is the main culprit. CNBC's Eunice Yoon reports the latest developments.» Read More
SHANGHAI, Sept 1- China's central bank plans to tighten rules on trading of currency forwards from October, sources with direct knowledge of the matter told Reuters, in a move to curb speculation and volatility after a shock devaluation of the currency last month. The People's Bank of China has repeatedly intervened to stabilize the yuan since the Aug. 11...
While the Reserve Bank of Australia (RBA) will likely keep interest rates on hold, the assessment of China-related risks will be key, says Ben Jarman, senior economist at JP Morgan.
Simon Grose-Hodge, head of investment advisory at LGT Bank Singapore, says the sell-off has been overdone, while Beijing's monetary easing shows that it is ready to do more to prop up growth.
SHANGHAI, Sept 1- China's central bank will tighten rules on trading of currency forwards from next month, sources with direct knowledge of the matter told Reuters, in a move to curb speculation and rising volatility after a sharp sell-off in the currency. The People's Bank of China has repeatedly intervened to stabilize the yuan since it shocked global markets...
SHANGHAI, Sept 1- China's central bank will require banks trading currency forwards on behalf of clients to set aside 20 percent in foreign exchange reserves starting Oct. 15, sources with direct knowledge of the matter said on Tuesday. The forex forwards reserves will be denominated in U.S. dollars, with no interest to be paid, the sources said.
The dollar lost ground against the yen and the euro as global stock markets began the week in the red, prompting investors to trim bets.
Peter Orszag, Citigroup vice chairman and former OMB director, shares his outlook on China's economy.
Urs Dur, TBS Ocean Logistics CFO, says the dry shipping market is soft and demand is weak.
Adrian Mowat, JPMorgan, weighs in on China's markets, and provides his thoughts on China's economy.
SHANGHAI Aug 31- China's yuan firmed on Monday after the central bank set a stronger guidance rate while it also appeared to continue using state-owned banks to support the Chinese currency, traders said. Most of the losses came after the People's Bank of China surprised markets by devaluing the yuan by nearly 2 percent on Aug. 11. After the abrupt devaluation on...
Instead of manipulating the yuan fixing, Beijing is manipulating the markets through liquidity injections, says Fraser Howie, independent analyst.
If the Fed plans to hike interest rates this year, September is the best time, explains Sally Auld, fixed income and FX strategist at J.P. Morgan.
The Dow Jones industrial average has lost nearly 1,000 points since China's surprise move to devalue its currency Aug. 11. For all its woes, China still outruns every other major economy. For 2015, while the nearly healthy U.S. economy will expand perhaps 2.5 percent, even most pessimistic analysts predict that China's will grow at least 5 percent.
*Estimated HK $1.57 tln a year channelled through Macau. HONG KONG, Aug 30- Just days after authorities raided five pawn shops in the Chinese territory Macau, many of the neon-lit stores in the world's biggest gambling hub are still letting punters make fake purchases to skirt rules on how much cash they can take out of China. The transaction, which took less than 10...
The dollar rose to one-week highs on Friday.
But a counter flow- call it "quantitative tightening"- is gathering force as China sells foreign exchange reserves to protect its economy and markets from the recent surge of capital out of the country. Analysts at Citi estimate that global FX reserves have been depleted at an average pace of $59 billion a month in the past year or so, and closer to $100 billion over...
I think the chances of a financial crisis are low, says Nicholas Lardy, Peterson Institute, explaining why he thinks China fears are overblown.
CHICAGO, Aug 28- U.S. retailers including Toys R Us are starting to negotiate with their Chinese suppliers to take advantage of lower manufacturing costs after China devalued the yuan, with many saying they want to be ready if currencies in China and other Asian countries drop more against the dollar. Earlier this month, China devalued its tightly controlled...
SHANGHAI, Aug 28- China's yuan rose sharply against the dollar on Friday, with traders citing large transactions by state-owned banks on behalf of the central bank to support the currency. "There were clear signs that the central bank was continuing intervening in spot trading to support the yuan," said a dealer at a major European bank in Shanghai.
After reporting a 14.5 percent rise in half-year revenue, Joe Perkins, CFO of Hong Kong-listed Nexteer Automotive, explains why the firm's future is looking even brighter ahead.