CENTRAL – CHINA

ASX loses $50b in new year rout

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Original article by Mark Mulligan
The Australian Financial Review – Page: 1 & 6 : 7-Jan-16

A move by the People’s Bank of China to devalue the renminbi by 0.22 per cent weighed on the Australian sharemarket on 6 January 2016. The benchmark S&P/ASX 200 Index fell by around 1.2 per cent. It has now shed 3.3 per cent in the year to date, reducing the local sharemarket’s capitalisation by $A50bn. Global investor sentiment in 2016 has also been hit by factors such as concerns about the economic outlook for China, weak commodity prices and North Korea’s detonation of a hydrogen bomb.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, PEOPLE’S BANK OF CHINA, PEAK ASSET MANAGEMENT PTY LTD, SHANGHAI COMPOSITE INDEX, HSBC BANK PLC, SOCIETE GENERALE, UNITED STATES. FEDERAL RESERVE BOARD, BLOOMBERG LP

Hockey says yuan falls good news

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Original article by Lisa Murray, Jacob Greber, Tony Walker
The Australian Financial Review – Page: 1&8 : 14-Aug-15

Treasurer Joe Hockey is relaxed about the devaluation of the yuan, claiming it will assist China’s exporters, who are important buyers of Australian resources. Hockey has joined the International Monetary Fund and ratings agency Standard & Poor’s in supporting China’s more market-based foreign exchange policy.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, PEOPLE’S BANK OF CHINA, INTERNATIONAL MONETARY FUND, STANDARD AND POOR’S CORPORATION, CHINA. NATIONAL DEVELOPMENT AND REFORM COMMISSION, CHINA. MINISTRY OF FINANCE, RESERVE BANK OF AUSTRALIA

Hockey says yuan falls good news

roymorgansocial Leave a comment

Original article by Lisa Murray, Jacob Greber, Tony Walker
The Australian Financial Review – Page: 1&8 : 14-Aug-15

Treasurer Joe Hockey is relaxed about the devaluation of the yuan, claiming it will assist China’s exporters, who are important buyers of Australian resources. Hockey has joined the International Monetary Fund and ratings agency Standard & Poor’s in supporting China’s more market-based foreign exchange policy.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, PEOPLE’S BANK OF CHINA, INTERNATIONAL MONETARY FUND, STANDARD AND POOR’S CORPORATION, CHINA. NATIONAL DEVELOPMENT AND REFORM COMMISSION, CHINA. MINISTRY OF FINANCE, RESERVE BANK OF AUSTRALIA