As cases of the new coronavirus, 2019-nCoV, have exceeded 5,000 in China, many fear the economic impact. Just weeks after…
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Daily Market News: Global markets are all in the red
Adam Vettese, UK Market Analyst at eToro, has provided his daily commentary on traditional and crypto markets for January 21,…
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Bitcoin’s recent burst due to Asian money flight, as China economy slows
Economic news from China this past Friday was, in a word, “tepid”. For the first time in three decades, Chinese…
Read MoreHSBC announces a $2.5 billion share buy-back after profits tumble
HSBC Holdings plc (LON: HSBA) has announced a $2.5 billion share buy-back as it takes steps to soothe investors after…
Read MoreChina’s Forex regulator says it will increase risk control measures
China’s Forex regulator said over the weekend that it will ramp up risk control efforts, push ahead with regulatory reforms…
Read MoreRecord gap between renminbi rates widens as China devalues again
Today The Financial Times (FT) made note that the gap between the Chinese renminbi’s two exchange rates (offshore RMB and…
Read MoreWeb based brokerage China Finance Online partners with China International Capital Corporation Limited
Securities, online brokerage and financial technology continues to gain traction in China
Read MoreShanghai Gold Exchange and World Gold Council partner to develop the Shanghai Free Trade Zone as a global gold market
China entrenching itself further as a gold center on a day the safe haven metal is trading up over 1% as traders shun fiat currency on the back of the Swiss National Bank removing the price floor on the Euro currency
Read MoreChina orders banks to check for illegal activity in the Forex market
These checks will help banks “curb illegal FX operations and criminal activities” and limit their risk exposure, China’s State Administration of Foreign Exchange (SAFE) said. In the press conference held today, Wang Yungui, director of the Comprehensive Department at the SAFE also made note of FX margin trading…
Read MoreDim sum in UK? Britain takes orders for its first government bond denominated in renminbi
The UK is set to become the first foreign country to print an offshore renminbi bond, a move that points to the currency’s growing global appeal and the UK’s desire for London to be the major offshore renminbi hub.
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