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Media's yuan-devaluation reports over-dramatic: Wing Tai

China move shows it is becoming more market-driven, says chairman Cheng Wai Keung; group's Q4 profit falls 19%

Fri, Aug 14, 2015 - 5:50 AM

Lee Meixianleemx@sph.com.sg@LeeMeixianBT

Singapore

THE media have been "over-dramatic" in their doom-and-gloom reporting of the Chinese central bank's devaluation of the yuan, Wing Tai chairman Cheng Wai Keung said at the group's results briefing on Thursday.

The People's Bank of China on Tuesday surprised markets by...

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