Japan warns China against frequent yuan devaluations to prop up economy
But analysts point to Tokyo's own moves that have left the yen 35% lower in 2 years
Add BT as a preferred sourceTokyo
AS ASIAN stock prices slumped Friday on the back of news that factory activity in China had fallen to its lowest level in more than five years, Japan Minister of Finance Taro Aso has warned the Chinese authorities against resorting to frequent devaluations of the yuan to prop up the country's sagging economy.
Mr Aso, who is also deputy prime minister, said after a regular Cabinet meeting: "Japan will face a tough decision on how to respond if China intervenes frequently in the market."
TRENDING NOW
Shanda co-founder sells Tanglin Hill bungalow for S$76 million
Jumbo Seafood to close flagship East Coast Seafood Centre outlet on Sep 30
Nearly half of Apac’s wealthy expect market crash or correction, plan to rotate to cash: study
Trek 2000 shares jump 41.5% after Osim founder Ron Sim drops claims, sells 7.3% stake to Azure Capital
