China Manufacturing PMI Slips to 77-Month Low in August (MCHI) (GXC) (FXI)
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Yuan bearish bets at five-year high; Asia FX outlook worsens: Reuters poll
August 20, 2015 3:17 AM EDTBy Jongwoo Cheon
SINGAPORE (Reuters) - Bearish bets on the Chinese yuan hit their largest in more than five years after a surprise devaluation of the currency, while the outlook on emerging Asian currencies in the past two weeks deteriorated to its worst in years, a Reuters poll showed.
The yuan lost 3 percent against the dollar last week, the biggest weekly loss on record, as the central bank surprised the market by devaluing the currency.
While the People's Bank of China has tried to reassure nervous financial markets that it sees no reason for... More
Chinese stocks go on wild ride as economic gloom deepens
August 19, 2015 1:25 AM EDTBy Samuel Shen and Kevin Yao
SHANGHAI/BEIJING (Reuters) - Chinese stock markets took a wild ride on Wednesday, tumbling and soaring in a session that made little sense other than to highlight that investors have almost no faith in a month-long government effort to stabilize them.
The Shanghai and Shenzhen markets fell 3 percent in morning trade, taking their losses to more than 8 percent since investors stampeded without warning on Tuesday.
But state-backed buyers later rushed in, enabling stocks to finish the day more than 1 percent higher.
It is a pattern that has been repeated several... More
