Pressure on yuan may boost earnings for some SGX firms

Singapore

FADING hopes of a US-China trade resolution have hit China's currency, with some banks revising their forecasts for the currency lower as the yuan slumped to a four-month low on Monday.

A weaker yuan trend could benefit Singapore-listed companies which clock costs in the currency, like Hi-P International and Yangzijiang Shipbuilding, analysts said.

The yuan fell 0.8 per cent to end its onshore trading session at 6.8721 per US dollar on …