Business Maverick: Yuan shorts gather pace on lockdown threat, property-sector risk

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 84%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Investors are turning cautious on China as the economy sputters under the weight of a Covid-Zero policy and deepening turmoil in the property sector, which risks spilling over into the rest of the financial system. While the People’s Bank of China has ...

China’s yuan is under pressure to depreciate as rising Covid cases add to concern over renewed lockdowns, while expectations of aggressive interest-rate hikes by the Federal Reserve boost outflows.

Investors are turning cautious on China as the economy sputters under the weight of a Covid-Zero policy and deepening turmoil in the, which risks spilling over into the rest of the financial system. While the People’s Bank of China has injected liquidity to soothe markets, sentiment remains fragile. While cautious over the short term, the bank sees the yuan benefiting from some tailwinds as the year progresses. China’s robust current-accountand potential easing of US tariffs will help the currency strengthen to 6.60 per dollar by year-end, Liu said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines