Chinese Yuan Slips, Asia FX Muted as Dollar Steadies

By Ambar Warrick– China’s yuan led losses across Asian currencies on Tuesday amid growing concerns over Beijing’s political climate, while broader Asian currencies moved little as the dollar steadied from recent losses. The slipped 0.6% to 7.3084 – its weakest level against the dollar since late-2007. The currency extended its losses from Monday after the … Read more

Chinese Stocks Rebound, Asia Markets Bet on Fed Pivot

By Ambar Warrick– Most Asian stock markets recovered from recent losses on Tuesday, tracking a recovery in Wall Street as markets bet that a pronounced economic slowdown will push the Federal Reserve into softening its hawkish stance.  Hong Kong and Chinese stocks were among the biggest gainers for the day, recovering from steep losses in … Read more

Chinese Yuan Hits 15-Year Low on Political Jitters, Weak PBoC Fix

By Ambar Warrick– China’s yuan hit its weakest level in nearly 15 years on Tuesday, while its offshore counterpart hit a new record low on growing concerns that the country’s new political leadership could jeopardize economic growth with anti-business policies.  The fell 0.6% to 7.3079 to the dollar, its weakest level since December 2007, while … Read more

U.S. Listed Chinese Stocks Tumble on Concerns About Xi’s Third Term By

© Reuters. By Sam Boughedda Chinese companies listed on U.S. exchanges experienced a sharp decline on Monday due to investor worries that Chinese President Xi Jinping’s policies, which have resulted in a slowing economy, will continue. Xi Jinping was confirmed as leader of the CCP for a third five-year term. There has been a departure … Read more

Chinese Markets Tumble as Newly-Crowned Xi Takes Aim at Wealthy

By Geoffrey Smith — Chinese stock markets suffered one of their worst ever trading days on Monday, amid fears that President Xi Jinping may use his re-election at the weekend to renew his campaign against the country’s biggest businesses and their owners. Hong Kong stocks were particularly badly affected, with the falling as much as … Read more

Crude Oil Lower; Recession Fears, Chinese Covid Worries Weigh

By Peter Nurse — Oil prices fell Friday, ending a difficult week on a negative note on fears a global economic slowdown and further Covid restrictions in China will severely hit demand. By 09:25 ET (13:25 GMT), futures traded 1.9% lower at $87.38 a barrel, while the contract fell 1.7% to $92.96.  Both benchmarks … Read more

Chinese Shipping Giant COSCO Sees Stronger 9-Month Profit

By Ambar Warrick– COSCO SHIPPING Holdings Co Ltd (SS:), the listed arm of the eponymous shipping giant, on Tuesday forecast a stronger net profit for the past nine months thanks to higher sea freight rates. The company expects net profit attributable to shareholders for the nine months to Sept 30 at about 97.21 billion … Read more

Jack Grealish celebrates with a Chinese takeaway after ‘great day at the office’ in Man City’s demolition of Man Utd

JACK GREALISH celebrated Manchester City’s derby demolition of United by grabbing a Chinese takeaway with his pals. The England ace was in irresistible form as his side battered Man United 6-3 at the Etihad. 3 Jack Grealish celebrated with a Chinese takeaway 3 Grealish, 27, helped City to an emphatic winCredit: EPA After the match … Read more

Chinese Yuan Hit by Mixed PMIs, Asia FX Eyes Steep Monthly Losses

By Ambar Warrick– China’s yuan fell on Friday following mixed signals from business activity data, while Asian currencies headed for steep monthly losses as a hawkish Federal Reserve and a robust dollar sparked sharp outflows. The fell 0.1%, while the shed 0.5% after showed the country’s manufacturing sector unexpectedly grew in September. But a … Read more

Chinese Yuan Hits Weakest Level Since 2008 Financial Crisis

By Ambar Warrick– The Chinese yuan slumped to its weakest level since the 2008 financial crisis on Wednesday, as a flurry of hawkish comments from Federal Reserve officials and deepening concerns over the Chinese economy battered the currency. The fell 0.7% to 7.2244, its weakest level since late-2007. The currency plunged over 13% this year, … Read more