China stocks, yuan slide as Washington, Beijing prepare trade salvos

Chinese stocks slipped on Thursday and the yuan gave back some of its recent gains against the dollar a day before China and the United States were due to set punitive tariffs on each other’s goods, heightening fears of a global trade war. The declines in the yuan and stocks come the same day the central bank’s targeted cut of reserve requirements for banks took effect, which is expected to release additional liquidity in the financial system. “The bottom for A-shares is nowhere in sight yet,” said Samuel Chien, partner of Shanghai BoomTrend Investment Management Co. The hedge …read more

Source:: Yahoo Finance


Did you enjoy this article? Join our FREE Newsletter!
I agree to have my personal information transfered to MailChimp ( more information )
Join over 100,000 investors and business leaders worldwide. Get the latest actionable business and investing intelligence before the rest of the crowd.
We hate spam. Your email address will not be sold or shared with anyone else.