China Scrambles to Bolster the Yuan and Sliding Markets
==========
On January 6, 2025, the spot yuan hit 7.3237 per US dollar, its weakest level since September 2023, amid concerns over Donald Trump's return as US President and his tariff threats. China's central bank is attempting to stabilize the yuan, which has weakened to its lowest in 16 months. The CSI-300 index fell 5% last week, marking its biggest weekly loss in over two years. The yuan declined 2.8% in 2024, reflecting a broader struggle against a strong dollar. The People's Bank of China may issue more yuan bills in Hong Kong to absorb currency and dampen speculation. Charu Chanana from Saxo emphasized the need to prevent a sharp yuan decline for China's recovery. HSBC's Fred Neumann noted that greater evidence is needed for economic stabilization, with consumer confidence hinging on the upcoming Lunar New Year celebrations starting January 29.
#Yuan #China #Trump #Tariffs #Economy #Stocks #Bonds #Pboc #Csi300 #LunarNewYear
https://www.asiafinancial.com/china-scrambles-to-bolster-the-yuan-and-sliding-markets
Asia Financial /
npub1tf…4lkk0
2025-01-06 08:59:53
Author Public Key
npub1tfqzenj4wwscy7hhrs7d9wygkqncl5ywgqlcc32lffwtg5yskruq74lkk0Published at
2025-01-06 08:59:53Event JSON
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"content": "China Scrambles to Bolster the Yuan and Sliding Markets\n==========\n\nOn January 6, 2025, the spot yuan hit 7.3237 per US dollar, its weakest level since September 2023, amid concerns over Donald Trump's return as US President and his tariff threats. China's central bank is attempting to stabilize the yuan, which has weakened to its lowest in 16 months. The CSI-300 index fell 5% last week, marking its biggest weekly loss in over two years. The yuan declined 2.8% in 2024, reflecting a broader struggle against a strong dollar. The People's Bank of China may issue more yuan bills in Hong Kong to absorb currency and dampen speculation. Charu Chanana from Saxo emphasized the need to prevent a sharp yuan decline for China's recovery. HSBC's Fred Neumann noted that greater evidence is needed for economic stabilization, with consumer confidence hinging on the upcoming Lunar New Year celebrations starting January 29.\n\n#Yuan #China #Trump #Tariffs #Economy #Stocks #Bonds #Pboc #Csi300 #LunarNewYear\n\nhttps://www.asiafinancial.com/china-scrambles-to-bolster-the-yuan-and-sliding-markets",
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