free forex signals

China stock market intervention fuels flight to dollar and yen

Discussion in 'Market News' started by Lily, Jan 5, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
    Likes Received:
    Investors worried about Beijing’s handling of troubled stock market buy safe haven assets such as the Japanese currency, now at an eight-month high

    Chinese authorities have intervened to shore up troubled domestic stock markets but failed to prevent a dash to safer havens by investors fearful that Beijing’s actions have only delayed a bigger share crash.

    China gained temporary respite after spending almost $20bn (£13.6bn) offering cheap borrowing facilities, helping the blue-chip CSI300 index to end the day with a modest decline of 0.4%. The index of the of the largest listed companies in Shanghai and Shenzhen had crashed 7% on Monday as investors reacted to poor manufacturing data, triggering a wave of selling on global stock markets.

    Continue reading...

Share This Page