|Day's Range||0.147 - 0.148|
|52 Week Range||0.1433 - 0.1604|
Yahoo Finance's Alexis Christoforous and Jared Blikre look into President Donald Trump's likely choice for the head of the World Bank after prior leader Jim Yong Kim stepped down unexpectedly in January, 2019.
After the selloff in December, Chief Fixed Income Strategist Kathy Jones of Charles Schwab says investors are back with a "big appetite for risk" in sectors like emerging currencies. Yahoo Finance’s Alexis Christoforous speaks to her.
The arrest of P2P suspects hiding overseas is a top priority of Operation Fox Hunt, part of President Xi Jinping's war on corruption that includes bringing back government officials and business executives who have fled abroad with assets. The suspects are accused of crimes related to illegal fundraising, the ministry said on its website. P2P platforms gather funds from retail investors and loan the money to small corporate and individual borrowers, promising high returns.
China recovered much more rapidly from the Great Recession, but now it’s the one holding the greatest amount of debt, a former policymaker said Friday.
* PREVIOUS TRADING SESSION MOVES: * SSEC -0.1 pct, CSI300 +0.2 pct, HSI -0.2 pct * HK- Shanghai Connect daily quota used 6.4 pct, Shanghai- HK daily quota used 0.4 pct * HK- Shenzhen Connect daily ...
The U.S. dollar was weaker Thursday in a volatile session that was marked by a round of weaker-than-expected economic data that briefly overshadowed optimism over U.S.-China trade talks. Meanwhile, the euro and British pound grappled with slowing growth and continued drama surrounding Britain’s efforts to exit from the European Union with a new trade agreement. The ICE U.S. Dollar Index (DXY) a measure of the currency against a basket of six major rivals, first flipped in to negative territory during Thursday’s session after retail sales data for December showed an unexpected 1.2% decline, the worst drop in nine years.
The U.S. dollar holds losses in the face of a jobs report that outpaced economists’ average expectations.
The U.S. dollar recovers in late trading on Thursday after having spent earlier hours under pressure on the back of the Federal Reserve’s change in tone during its first monetary policy update of the year, saying it would be ‘patient’ with respect to further interest-rate increases.
Over 300 Chinese listed firms have said they will likely report full-year losses of over 100 million yuan each ($15 million), state media reported on Thursday, in a sign companies are facing increased pressure amid a slowing economy and trade frictions. The Shanghai Securities News newspaper said that firms were making the disclosures to meet requirements set by China's stock exchanges, adding that a large number were attributing their losses to asset writedowns or late payments from suppliers. As of Wednesday, 320 firms said that they would post losses of over 100 million yuan each, 129 of which said their respective losses would exceed 800 million yuan, the newspaper said.
The U.S. dollar pulled back from recent gains on Friday, looking to end the week little changed compared with last Friday.
BEIJING (Reuters) - China's economy grew at the weakest pace in nearly three decades last year amid weakening domestic demand and U.S. trade tariffs, prompting Beijing to announce a series of growth-boosting ...
China's central bank said on Friday it will release about 250 billion yuan ($37 billion) in additional cash to banks, Reuters reported, citing a bank statement. The move is due to changes in assessments for banks' targeted reserve requirement ratio reductions announced in 2018. Earlier this month, the central bank announced a cut in the amount of cash that banks have to hold as reserves this year as the People's Bank of China tries to reduce the risk of an economic slowdown. The total since then includes the 250 billion yuan announced on Friday and about 300 billion yuan after banks used most of the 1.5 trillion yuan released via the RRR cut, which took effect on Jan. 15 and Jan. 25. The liquidity was used to pay back maturing medium-term lending facility loans, the central bank said, according to the report. Separately, the PBOC created a bond swap facility that analysts said is the latest effort to counter the two-pronged risk of a trade war with the U.S. and a broad-based domestic economic slowdown. The move will allow holders to swap commercial bank perpetual debt for central bank bills to be used for borrowing collateral. A PBOC statement said this will "increase the financing support for the real economy."
The slight adjustments to the stock markets on Monday and Tuesday couldn’t diminish the investors’ positive outlook and the growth of key global indexes has resumed on Wednesday afternoon. The S&P500 futures and FTSE100 have both added 0.4% at the start of the day. Euro Stoxx has grown by 0.6% and Brent Oil is once again attempting to climb over $62.
BEIJING (Reuters) - China's steel and iron ore futures dipped on Wednesday following a broader sell-off across riskier assets, pressured by persistent concerns over weak demand amid a slowing global economy. ...
China will step up fiscal spending this year to support its economy, focusing on further cuts in taxes and fees for small firms, finance ministry officials said on Wednesday. Mounting pressure on the world's second-biggest economy pushed growth last year to its lowest since 1990 even as Beijing stepped up stimulus measures and spurred banks to lend more. The government may unveil more fiscal stimulus during the annual parliamentary meeting in March, including bigger tax cuts and more spending on infrastructure projects, economists say.
China's SZ DJI Technology Co Ltd, a popular maker of drones which is investigating suspected corruption by its employees, said on Monday the matter involved staff inflating the cost of parts for personal gain. The privately held company estimates such incidents could cost the company up to 1 billion yuan ($147 million) but said it "did not incur a full year loss in 2018". On Friday, DJI said in a statement that it was "currently investigating a number of serious cases of corruption at the company leading to losses of more than RMB 1 billion for 2018".
The Chinese economy is slowing down to multi-year lows. GDP growth was 6.4% y/y in 4Q18 was the lowest in 28 years. However, monthly indicators hold out a hope of a change in trend.
Last year was painful for emerging market currencies, but it looks like 2019 might not be much better.
It’s been a particularly choppy start to the year for the U.S equity markets. The Dow fell to 2019 low 22,686.22 before bouncing back to hit 24,000 levels on Thursday. A number of drivers have dictated direction at the turn of the year.
China published a five-year blueprint on Friday seeking economic and financial integration between southern Guangxi province and Southeast Asia, representing Beijing's latest effort to promote international use of the yuan currency. China's state council, or cabinet, has agreed to build Guangxi, which borders Vietnam, into a financial gateway between the Association of Southeast Asian Nations (ASEAN) and China, the world's second biggest economy, the People's Bank of China (PBOC) said in a statement on its website. As a key objective of the plan, China will promote the use of the yuan among ASEAN countries, with plans to facilitate cross-border trade settlement, currency transactions, investment and financing in the Chinese currency.
The U.S. dollar found some respite from recent selling on Thursday after dropping to a three-month low on the day prior as investors are focusing on an economic calendar filled to the brim with Federal Reserve speakers and data points.
The U.S. dollar remains the world’s reserve currency—for now. However, a number of central banks lately are contemplating a world in which the almighty buck isn’t the pre-eminent global medium of exchange.
During the Wednesday trading session, the US markets positions were actively restoring, what not to say about the national currency due to news around the Fed.