4.280.00 (0.00%)
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Prev Close4.28
Bid4.28 x
Ask4.29 x
52wk Range3.89 - 4.95
Day's Range4.24 - 4.29
Avg Vol (3m)56,792,896
As of 3:00 AM EDT. Market closed.
  • Reuters3 days ago

    High noon for regulators in China's Wild West bond market

    A dispute between investors and the underwriter of a bond issued by Evergreen Industries is showing up regulatory failings that need fixing if China is to sustain newly robust inflows of foreign capital into local bonds. As China's economy slows and its currency weakens under pressure from domestic capital flight, policymakers have opened up the country's corporate bond markets to foreign investors to help keep credit flowing. Foreign holdings of onshore Chinese bonds rose by a record 40.9 billion yuan ($6.12 billion) in June, data from China's main bond clearinghouse show, surpassing the flow into bonds from commercial bank wealth management products for the first time since the height of the equity bubble in May 2015.

  • Reuters9 days ago

    China's provinces enlist banks to defy overcapacity cuts

    China's provinces are pushing back against Beijing's efforts to restrict credit to loss-making enterprises with excess capacity, and are enlisting the support of local bankers to keep financing the targeted sectors, such as steel and coal. As part of China's economic efficiency goals, the State Council earlier this year set capacity reduction targets for regional and central government enterprises in such sectors, and China's banks have been ordered to slash lending to loss-making and delinquent corporate borrowers.