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Wednesday, August 12, 2015
China currency falls for 2nd day after surprise devaluation
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
Alibaba to take US$4.6 bil. stake in retailer Suning
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.
Chinese dragon losing its shine for foreign firms
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.
Friday, August 7, 2015
U.S. investment bank Goldman Sachs has estimated the mainland Chinese government has spent up to 900 billion yuan (US$147 billion) in the last two months to try to prop up stock prices and halt a market rout.
Thursday, August 6, 2015
China is aiming to issue 1.0 trillion yuan (US$164 billion) worth of bonds to fund construction projects to help boost the slowing economy, Bloomberg News reported, quoting unnamed sources.
Tuesday, August 4, 2015
A key gauge of Chinese manufacturing activity plunged to a two-year low in July, an independent survey showed Monday, the latest data suggesting the world's second-largest economy faces downward pressure in the third quarter.
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