China Archive

Dollar steadies against yen, while Aussie dollar surges

Source photo The dollar was almost flat against the yen during Asia trade Thursday, with brightened sentiment prompting selling of the Japanese currency and its perceived safety, which offset dollar selling by investors looking to lock in profits. Meanwhile, the Australian dollar jumped against its rival currencies following a sharp drop in the nation’s unemployment [&hellip

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China says no tough rules for foreign bank card firms

Source photo China will not impose tough licensing restrictions on overseas bank card providers seeking to enter the country’s $7 trillion card payment market, a senior central bank official said on Tuesday. Industry sources told Reuters in October that they were concerned the Chinese government would limit the number of licenses issued to foreign card [&hellip

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Dollar steadies as investors watch for U.S. jobs data

The dollar stabilized on Friday in Asia, as investors awaited the U.S. jobs report to help them weigh the odds of a Federal Reserve rate increase this year. Momentum on the U.S. dollar’s rise, which hit multi-month highs against the euro and the yen on Thursday, tapered off on Friday after data showed new applications [&hellip

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Wary investors eye China’s back-door entry into MSCI indexes

Source photo MSCI will begin to add overseas-listed Chinese shares to its emerging market indexes this month, drawing billions of dollars into such stocks, which could eventually lead to mainland-listed companies finding their way into global equity portfolios. The index provider’s decision in June not to include domestically listed China stocks, known as A-shares, in [&hellip

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Currencies: Dollar up against yen on report BOJ planning fresh stimulus

Source photo The dollar was higher against the yen in choppy Asia trade Friday, supported by a local media report that the government is putting together a fresh fiscal stimulus in the form of a supplementary budget exceeding Y3 trillion ($25 billion). The greenback USDJPY, -0.29% was at ¥120.82 compared with ¥121.11 late Thursday in [&hellip

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Tesla CEO says could start China car production in two years

Tesla Motors Inc could begin producing cars in China in two years, chief executive Elon Musk said. Local production could reduce the sales price of Tesla models in China by around a third, according to a transcript of his remarks at a Tsinghua University event in Beijing that was posted on the company’s official blog [&hellip

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Dollar slightly higher, hits resistance at ¥120

Source photo The dollar inched up against the yen in range-bound Asia trade Wednesday, with investors largely sitting on the sidelines with no fresh trading cues. The currency USDJPY, +0.04% briefly hit as high as ¥120.01 in keeping with stock market strength in the mid-afternoon, crossing the ¥120-mark for the first time since Oct. 13. [&hellip

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Dollar loosens yen grip, rises after nearly two-month lows

Source photo The U.S. dollar extended gains against the Japanese yen in Asia trade Friday, as dip-buying kicked in after it tumbled overnight to its lowest level in nearly two months. The dollar USDJPY, +0.11% was at ¥119.17, compared with ¥118.91 late Thursday in New York. The U.S. currency hit as low as ¥118.06 overnight, [&hellip

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Burberry is using Apple and Snapchat to help save it from the crumbling Chinese market

British luxury goods maker Burberry, which is famed for its beige trench coats and patterned scarves, reported a 2% rise in retail revenue to £1.1 billion ($1.7 billion) for the first half of the year. But it wasn’t taken as good news – sales in China are cratering. Burberry is now desperately trying to use [&hellip

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European stocks gain, set to break losing streak

European equities climbed Thursday, springing higher after three sessions of declines, but a tumble in shares of Burberry Group PLC highlighted investor concerns about China’s cooling economy. The Stoxx Europe 600 index SXXP, +0.98% rose 0.9% to 359.07, as all sectors advanced, led by technology, telecommunications and health care stocks. Shares of chip designer ARM [&hellip

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