China calms jittery investors with yuan stability, clear message
New York
CHINESE authorities seem to finally be getting through to investors after months of confusion about the nations' economic policies helped drive a US$9 trillion global equity rout.
Recent moves such as ruling out the possibility of a one-off yuan devaluation, a new head of the securities regulator and an increase in the money available for lending appear to be winning back some confidence. Fresh data on Tuesday showing a further slowdown in the world's second largest economy barely made a dent in a broad market rally. Until three weeks ago, such a signal probably would have sparked a sell-off.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
HSBC wins £1.3 billion suit over Disney film finance scandal
WTO countries to reboot dispute reform negotiations
Fed’s preferred core inflation gauge rose at a brisk pace in March
Thames water crisis risks £100 billion UK investment plan
Indian central bank issues draft guidelines for web aggregators of loan products
Vietnam National Assembly head resigns amid graft purge