HKEX has depended on a strategy of being the gateway to China through its stock and bond trading links.
President Donald Trump said last week the U.S. is putting 10% tariffs on another $300 billion worth of Chinese goods starting September 1.
The yuan plunged beyond 7 per dollar for the first time since 2008 amid speculation Beijing was allowing currency depreciation to counter President Donald Trump’s latest tariff threat.
European stock markets have fallen after the surprise decision by Donald Trump to impose new tariffs on a further $300bn of Chinese imports.
White House economic adviser Larry Kudlow told Fox News that the president’s tweet was a warning.”The president is, I think, issuing a warning here, that, you know, we bent over backwards earlier, we suspended the 25% tariff to 10 and then we’ve left it there.
The move raises questions about the independence of MSCI as the index giant wields increasing market power. Last summer, the world’s largest index provider added stocks in China to one of its most prominent global benchmarks, leading billions of dollars to flow into Chinese shares and advancing China’s plans to draw more foreign investors toRead More
While many countries struggled following the 2008 global financial crisis, China appeared as though it had largely escaped unscathed. Key points: China’s rising levels of debt mostly attributed to a “credit boom” post GFC Many large infrastructures are struggling to generate positive revenue Chinese local government debt has been called an “iceberg” with “titanic risks”Read More
Stocks in China, Hong Kong, Australia, Japan and South Korea gained in morning trade. The Caixin Manufacturing PMI for November came in slightly above expectations, growing marginally from October. Over the weekend, Chinese President Xi Jinping and U.S. President Donald Trump agreed to a temporary pause on escalating the ongoing trade war between the twoRead More
China’s battle to cut debt in its economy has dealt a blow to smaller companies, according to French trade credit insurer Coface. They have traditionally been at a disadvantage in getting loans compared with big, state-owned companies, and top officials are acknowledging their plight. Small businesses account for the majority of companies in China andRead More
Chinese President Xi Jinping said in a speech last week that the country was “steadily widening the opening up” of its financial industry. For China watchers, steadily was the key word. Almost exactly a year after the country announced historic plans to ease local ownership rules and entry barriers to what’s now a $US45 trillionRead More