EMerging Equity
RMB
Chinese Yuan Will Join IMF Reserve Currency Basket Earliest After September 2016
“The International Monetary Fund pushed back until Sept. 30, 2016, the date that China’s yuan could be included in its basket of reserve currencies,” Bloomberg reports. The news agency said the following: The executive board, which represents the IMF’s 188 member nations, voted Aug. 11 to extend the composition of the fund’s Special Drawing Rights for … Continue reading
Can China’s Currency Devaluation Tackle Secular Stagnation?
By Andrew Sheng and Xiao Geng Secular stagnation is looming worldwide, and China is no exception. Globally, the unprecedented monetary and fiscal stimulus following the 2008 financial crisis has caused debt, equity, and property prices to peak, even as trade and investment decline; all of this has depressed demand, economic growth, and inflation. For China, … Continue reading
China’s Transition To Slower But Better Growth
China is moving to a “new normal” of slower yet safer and more sustainable growth. This involves giving the market a more decisive role in the economy, says the IMF in its annual assessment of the economy. China’s growth is expected to be 6.8 percent in 2015, down from 7.4 percent last year. This slowdown, … Continue reading
Regional Impact Of Renminbi Depreciation: ADB Chief Economist Shang-Jin Wei
The move by People’s Bank of China’s (PBoC) this week to loosen the renminbi (RMB) exchange rate, inducing a depreciation of the RMB against the US dollar by 3.5% in two days, has sparked intense debate among economists, pundits and policymakers. Does the depreciation show the People’s Republic of China (PRC) is moving against or … Continue reading
China’s Stock Index Has Just Made Its Best Week In 2 Months While Yuan Volatility Shakes The Markets
China’s benchmark stock index has just made its biggest weekly gain in two months. Investors bet that the weaker yuan will help to boost the economy. The Shanghai Composite Index rose 0.3% at the close today and this week the index advanced by 5.9%. The yuan lost 3% for the week as a result of Tuesday’s surprise devaluation. Gerry Alfonso, a sales trader at Shenwan … Continue reading
Currency War Intensifies As China Devalues Yuan For Third Day In A Row
China’s Central Bank, the People’s Bank of China (PBOC), has further devalued the yuan on Thursday for a third day in a row — following a surprise “one-time devaluation” announced by the Central Bank on Tuesday — which is heating up what appears to be a currency war that is continuing to rattle markets. . On Thursday, the PBOC set the … Continue reading
Currency War Heats Up As China Devalues Yuan For Second Day In A Row
China’s Central Bank, the People’s Bank of China (PBOC), has further devalued the yuan on Wednesday — following a surprise “one-time devaluation” announced by the Central Bank on Tuesday — which is heating up what appears to be a currency war and is thus rattling markets — sending stocks, currencies, and commodities tumbling for a second day in a row. … Continue reading
Emerging Market Stocks Fall Into Bear Market As China Devalues
Emerging market stocks fell into a bear market on Tuesday amid concerns over China, following a move by its Central Bank to devalue the nation’s currency. The benchmark MSCI Emerging Markets Index has fallen 20 percent since its September 2014 peak, which is the threshold for a bear market. The benchmark MSCI EM gauge fell 1.1 percent and the iShares MSCI Emerging Markets … Continue reading
As Growth Slows In China, Its Central Bank Devalues Currency By A Record 1.9%
China’s Central Bank, The People’s Bank of China (PBOC), has weakened the yuan’s daily reference rate by a record 1.9 percent on Tuesday and says it will strengthen market-oriented reforms in addition to increasing two-way market volatility, allowing depreciation to counter a slump in the nation’s exports. Following the move by the PBOC, the yuan dropped an unprecedented 1.6 percent … Continue reading
Chinese Yuan: More “Significant Work” Is Needed Before Deciding Whether To Grant The Renminbi Reserve Currency Status, IMF Says
“The International Monetary Fund said the yuan trails its global counterparts in major benchmarks and that “significant work” in analyzing data is needed before deciding whether to grant the Chinese currency reserve status,” Bloomberg reports. According to the news agency: IMF staff members also opened the door to a possible delay in any approval with … Continue reading
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