Thursday, August 13, 2015
SHANGHAI - China weakened its currency for the third consecutive day Thursday, but financial markets that had been shaken by the surprise devaluation took heart as authorities pledged not to let the yuan plummet.
China cut the yuan's value against the U.S. dollar for the second consecutive day Wednesday, roiling global financial markets and driving expectations the currency could be set for further falls.
The Chinese yuan is expected to continue to fall further in the second half of this year after the latest steep decline, but the pace of the currency's depreciation will become slower, an analyst said Wednesday.
Wednesday, August 12, 2015
China's currency fell further Wednesday following a surprise change in its exchange rate mechanism that rattled global markets and threatens to fan trade tensions with the United States and Europe.
Mainland China's central bank on Tuesday devalued its yuan currency by nearly 2 percent against the U.S. dollar, as authorities seek to push market reforms and bolster the world's second-largest economy.
Tuesday, August 11, 2015
Chinese Internet giant Alibaba is to pay 28.3 billion yuan (US$4.6 billion) for a near-20 percent stake in consumer electronics retailer Suning, the two companies said in a statement Monday.
The growing likelihood of a rate hike next month coupled with fears of a deepening Chinese economic slowdown are expected to weigh on Singapore shares this week.
Monday, August 10, 2015
Consumer inflation in mainland China rose to 1.6 percent in July, the government said Sunday, as downward pressure on prices eased further in the world's second-largest economy.
The once irresistible allure of the Chinese market to foreign multinationals is losing some of its luster as slowing growth in the world's second-largest economy hits their sales.
Sunday, August 9, 2015
Mainland China's foreign trade performance worsened in July with both exports and imports falling on an annual basis, customs said on Saturday, spelling more worry for the world's second largest economy.