|Day's Range||0.154 - 0.155|
|52 Week Range||0.1461 - 0.1604|
Yahoo Finance's Jared Blikre joins Seana Smith from the New York Stock Exchange to discuss the latest market moves.
Yahoo Finance's Jared Blikre joins Seana Smith from the New York Stock Exchange to discuss a debate at the Securities and Exchange Commission over a proposal to allow companies the choice to compel arbitration, which would remove the possibility of class action lawsuits.
Keith Bliss of Cuttone and Company joins Yahoo Finance's Seana Smith from the floor of the New York Stock Exchange to discuss the latest market moves.
Yahoo Finance's Jared Blikre and Alexis Christoforous break down the latest market action.
The selloff in the yuan intensified on Tuesday, spilling into other assets, but isn’t yet reason for panic, analysts say.
Chinese smartphone maker Xiaomi booked a quarterly net loss of $1.1 billion, but also record overseas revenue and surging smartphone shipments ahead of its blockbuster initial public offering next month. Expectations of a highly sought after IPO have grown after Xiaomi, founded only eight years ago, blew past its 100 billion yuan ($15.6 billion) sales target for 2017 with a couple of months to spare. The Hong Kong IPO is expected to raise $10 billion and value Xiaomi at between $70 billion and $100 billion, sources have said.
Chinese smartphone maker Xiaomi booked a first-quarter net loss of 7 billion yuan ($1.09 billion) ahead of its blockbuster initial public offering. When one-off items are excluded, Xiaomi said it made a net profit of 1.04 billion yuan in the first quarter, compared with 3.9 billion yuan for the whole of 2017. Its smartphone shipments jumped 88 percent thanks to strong growth overseas, helping Xiaomi's revenue rise to 34 billion yuan ($5.3 billion) for the period.
June 8 (Reuters) - Anxian Yuan China Holdings Ltd: * EXPECTED TO RECORD A SIGNIFICANT INCREASE BY APPROXIMATELY 197% IN NET PROFIT FOR YEAR * EXPECTED RESULT DUE TO INCREASE IN REVENUE BY APPROXIMATELY ...
May 24 (Reuters) - Yuan Heng Gas Holdings Ltd: * EXPECTS TO RECORD A CONSOLIDATED PROFIT ATTRIBUTABLE TO OWNERS OF COMPANY FOR YEAR ENDED 31 MARCH 2018 * EXPECTED RESULT DUE TO IMPROVEMENT OF GROSS PROFIT ...
China's central bank announced a series of measures on Friday to support cross-border fund flows, in an apparent effort to avoid a potential liquidity crunch in the offshore yuan market around June 1, when Chinese shares will be included in MSCI's benchmark indexes. China's MSCI entry is expected to trigger a surge in foreign money flows into yuan-denominated A shares, largely via cross-border stock connect schemes with Hong Kong, potentially boosting demand for the offshore yuan. The People's Bank of China (PBOC) said in a statement that banks involved in offshore yuan clearing and settlement can tap liquidity from the onshore market, while urging clearing banks to come up with contingency plans to deal with liquidity risks.
China's northern port city of Tianjin announced plans on Thursday to set up funds worth 100 billion yuan ($16 billion) to support the artificial intelligence industry, official news agency Xinhua said. China aims to become a world leader in artificial intelligence by 2025, taking on U.S. dominance in the sector amid heightened international tension over military applications of the technology. Tianjin will pour the funds into developing sectors such as intelligent robots and hardware and software.
A subsidy war in China's mobile payment market between its two biggest tech firms Tencent Holdings and Alibaba Group is set to continue, Tencent's president said after the firm reported a better-than-expected 61 percent jump in quarterly net profit. Asia's second-most valuable listed company said on Wednesday net profit for the first quarter was 23.29 billion yuan (2.7 billion pounds), beating the average analysts' estimate of 17.5 billion yuan.
The AUD is going down again after taking a short break. The RBA meeting minutes did not affect the currency very much, as everything was quite clear beforehand. The Chinese stats were, on the contrary, very influential.
China was one of the top stories overnight, as Moody’s released their analysis on the China/US trade war.
Millions of Americans who lost manufacturing jobs during the 2000s have long ”known” China was to blame, not robots. For years economists have viewed the increased role of automation in the computer age as the chief culprit for some 6 million lost jobs from 1999 to 2010 — one-third of all U.S. manufacturing employment. In the past several years fresh thinking by economists such as David Autor of MIT has challenged that view.
Geopolitical events play a significant part in the way various currencies perform in the forex market. Anything from general elections to military tensions between rival nations can cause currencies to take a nosedive or increase in value.
May 9 (Reuters) - China Wan Tong Yuan (Holdings) Ltd : * Q1 PROFIT ATTRIBUTABLE RMB11.5 MILLION VERSUS RMB6.7 MILLION * Q1 REVENUE HK$14.9 MILLION VERSUS HK$12.9 MILLION Source text for Eikon: Further ...
May 4 (Reuters) - Fu Shou Yuan International Group Ltd : * CO TO MAKE CAPITAL CONTRIBUTION TO HELINGEER COUNTY ANYOU ECOLOGICAL MEMORIAL CEMETERY OF RMB108 MILLION * AFTER CAPITAL CONTRIBUTION & TRANSFER, ...
BEIJING (Reuters) - China's top securities regulator has fined one firm for illegal disclosure of information, as well as some individuals for market manipulation in cases involving over 70 million yuan ...
Ping An Insurance (Group) Co of China , the country's largest insurer by market value, posted an 11.5 percent rise in quarterly net profit, driven by strong premium growth. Ping An is also gaining from being diversified, with a presence in businesses such as asset management and banking. Net profit at Ping An, one of nine insurers globally and the only Asian one designated as a systemically important insurer by global regulators, posted a net profit of 25.70 billion yuan ($4.06 billion) for the three months ended March 31, against 23.05 billion yuan in the same period last year.
China has weakened the yuan (CNY=) at times in the past but more recently it has engineered a strengthening. Any attempt by China to engineer a weakening, or devaluation, of the yuan might only escalate trade tensions between Washington and Beijing, while providing little relief to Chinese exporters facing the onslaught of tariffs that Trump has imposed. Many analysts say China will be loath to let the yuan depreciate or use it as a tool in the trade war, and Chinese President Xi Jinping's somewhat conciliatory speech last Tuesday also blunted speculation about yuan depreciation.
President Donald Trump is upset about something. In a tweet Monday morning, Trump fired off a somewhat perplexing thought about China, Russia, currency devaluation, and U.S. monetary policy. “Russia and China are playing the Currency Devaluation game as the U.S. keeps raising interest rates,” Trump said.
BEIJING (Reuters) - China is evaluating the potential impact of a gradual yuan depreciation as a tool in the escalating trade dispute with the United States, Bloomberg News reported on Monday, citing people ...
Escalating U.S-China trade tensions mean risk aversion is likely to remain the name of the game across financial markets, as investors seek to avoid riskier assets. Yesterday, in a move that rattled global confidence, China announced plans to apply tariffs to 106 U.S.-produced goods, ranging from aircraft to orange juice.