TOPIC

Currencies

Chairperson of China’s National Development and Reform Commission (NDRC), Zheng Shanjie (third from left), attends a press conference in Beijing on Tuesday. Photo: EPA-EFE

Editorial | Time will show worth of strategy laid out by China’s top economic planner

Plan unveiled by the National Development and Reform Commission adds to confidence that China’s 5 per cent growth target can be met.

videocam

China’s yuan faces volatility amid US pressure and home-grown stimulus: analysts

6

Yuan use up 21.1% in cross-border trade as China pushes global role for currency

videocam
29

Malaysia PM Anwar’s coalition faces internal cracks after big by-election win

While Anwar is riding high on his successful economic recovery and political manoeuvres, old tensions with his rivals-turned-allies remain.

videocam
Malaysian Prime Minister Anwar Ibrahim speaking to supporters during an election campaign in Kuala Lumpur, on November 16, 2022. Photo: AP

Is the strengthening ringgit a blessing or a curse for Malaysians?

While some Malaysians celebrate the strong currency, others are feeling the pinch as their income from foreign sources shrinks.

Is China’s new large-scale stimulus an economic saviour or ‘not enough’?

Some analysts see ‘panicking’ among China’s policymakers, others point to a rising sense of urgency in fighting deflation.

videocam
Advertisement
Advertisement

China’s yuan gains ground after rate cuts, exporters’ US dollar exodus

Cuts by the Federal Reserve have prompted exporters to convert their US dollar assets into yuan, strengthening China’s currency.

China’s yuan has made gains on the US dollar after a Federal Reserve interest rate cut last week. Photo: Shutterstock

Dump or buy more? China’s holding of US debt in spotlight after Fed’s rate cut

Continued diversification of reserve portfolio may be in order, but into what, and at what speed, are pressing questions.

8

Hong Kong banks trim prime rates halfway after Fed’s bold slash

For a typical HK$5 million, 30-year loan priced at prime minus 1.75 per cent, a quarter-point cut in prime rates will save mortgage borrowers HK$720 per month.

8

Opinion | Why it’s time Hong Kong joined China’s currency zone

Allowing Hong Kong banks to offer Chinese onshore renminbi services would enable the city to leverage its economic freedom on a whole new level.

videocam
4
An employee counts Chinese yuan banknotes in an arranged photograph at the Bank of China Hong Kong headquarters, on November 12, 2015. Photo: Bloomberg

When will China respond to Fed rate cut as economic problems mount?

US Federal Reserve expected to lower its benchmark borrowing rate, which could give China room to ease.

5
Markets widely expect the US central bank to lower its benchmark borrowing rate on Wednesday. Photo: AP

China’s stealthy yuan support ebbs, denting hot hedge fund trade

A lucrative trade that helped hedge funds ratchet up profits on Chinese debt instruments is starting to lose its charm, analysts say.

Cryptocurrency in focus as China sheds light on new money-laundering risks

Draft revision to the Anti-Money Laundering Law also refines the definition of anti-money-laundering, with seven types of offences listed.

Trump threatens ‘100% tariff’ on countries ditching US dollar

The Republican presidential nominee told a Wisconsin rally the US currency has been ‘under major siege’ for eight years.

videocam
15
Republican presidential nominee Donald Trump at a campaign event in Wisconsin on September 7. Photo: Getty Images via AFP

Macroscope | Gold is still the safe haven of choice in Asia and beyond

The gold price coming adrift from traditional anchors points to deep uncertainty about the world and concern for the global monetary system.

videocam
5
A worker handles ABC Bullion 1kg gold bars at the ABC Refinery smelter in Sydney, Australia. The price of the precious metal has surged to a record US$2,500 for a single ounce in recent weeks. Photo: Bloomberg

Opinion | Bretton Woods should heed the cries for fair play or go

The Global South is right to demand change of a global financial system that is neither ecologically nor financially sustainable.

videocam

Yuan still lacks ‘heft’ of China’s economy, trade on global stage: ex-official

Ex-Chongqing mayor Huang Qifan says China has no unrealistic ambitions for the yuan to replace the US dollar.

40
Advertisement
Advertisement

Financial secretary pledges more financial connections with mainland

Minister hinted at the launches of more links that will better connect Hong Kong markets with those on the mainland.

Financial Secretary Paul Chan spoke to a forum in Shanghai on Thursday. Photo: Bund Summit

Singapore’s tourists can ‘live like kings’ in Bali thanks to soaring dollar

Singapore’s currency is at its strongest against the US dollar in over a decade, benefiting travellers, but hurting some local businesses

After ‘phenomenal’ growth, China needs plan to recover illicit digital assets

Growth of virtual currencies such as bitcoin and ether used in crimes has been ‘phenomenal’, law professor says.

China’s yuan to continue to gain, but outlook hinges on Fed rate cuts: analysts

China’s yuan gained 1.9 per cent against the US dollar in August, which represented the largest monthly change since November.

4
An employee arranges bundles of US dollar banknotes and Chinese yuan. Photo: Bloomberg

Open questions | Economist Marc Uzan on how China can help reshape the global financial system

Marc Uzan, who has campaigned for changes to the global financial system for 30 years, says he remains optimistic about international cooperation despite the rise of unilateralism.

videocam
6
Illustration: Lau Ka-kuen

Can the yuan really become a truly international currency that everyone wants?

China’s yuan has become more acceptable to foreign countries, but authorities still maintain tight control of fund flows under its capital account.

videocam
45

Interest rates, US election adding to yuan volatility: Goldman

Moves by the US Federal Reserve, as well as November’s US presidential election, would discourage selling the yuan, Goldman Sachs said on Friday.

4

High level of yuan deposits cements Hong Kong’s offshore hub role

Improvement in equity-market sentiment and companies’ increasing need for yuan are driving the surge in deposits, according to analysts.

Deposits of yuan in Hong Kong exceeded 1 trillion yuan for the fourth straight month. Photo: Shutterstock

Singapore’s currency scales new heights as traders bet on diverging policy paths

The Singapore dollar has surged to levels not seen since 2014 as traders wager on a hawkish policy stance from the city state’s central bank.

A customer withdraws Singapore dollar banknotes from an ATM. The city state’s currency is the second-best performer in Asia this year behind Malaysia’s ringgit. Photo: AFP

Macroscope | Those seeking a weaker US dollar should be careful what they wish for

As geopolitical confrontation deepens, the dollar could be heading for a steep fall without any outside help, while gold continues to rise.

videocam

Opinion | With US rate cuts on the horizon, the glass looks half full again

Lower US rates, helped by Japan’s normalising policy, would boost liquidity and ease dollar pressure, with better days ahead for emerging markets.

videocam
Advertisement
Advertisement
Help preserve 120 years of quality journalism.
SUPPORT NOW
Currencies
Currency market action focused on developments with the Chinese yuan and the Hong Kong dollar.
last updated:
9 September, 2024
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement