BEIJING: Investors are snapping up Chinese financial assets, putting aside concerns over tension in the Middle East and instead focusing on progress in trade talks with the US, as well as signs that the world’s second-largest economy may be stabilising.
Improving confidence helped stoke a 0.5% rally in the yuan on Tuesday , pushing it to its strongest level since early August. The currency punched past the key 6.95-per-dollar level, and traded on the strong side of its 200-day moving average for the first time since May.The return of risk appetite in China comes amid growing optimism that Beijing and Washington may sign an initial deal on trade as soon as next week.
"Risk sentiment is strong onshore,” said Tommy Xie, an economist at Oversea-Chinese Banking Corp."There are signs of bottoming out in the economy and a more flexible monetary policy.”
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Iran-US tensions may hit exports'NSTbusiness: Analysts remain conservative over the country’s economic growth this year, as renewed MiddleEast geopolitical tensions have eclipsed the United States-China tradedeal optimism. US Iran
Read more »
Ringgit flat against US dollar in early sessionKUALA LUMPUR: The ringgit was flat against the US dollar in early session today as traders remained on the sidelines to monitor the market's development throughout the day.
Read more »
Ringgit flat against US dollar in early sessionTraders are monitoring economic conditions before making their next move. FMTNews Ringgit
Read more »
Stricter IPR protection sign of fair competition: China DailyBEIJING (China Daily/ANN): In its editorial, China Daily assures foreign companies that China is serious about the protection of intellectual property rights and building an improved business environment.
Read more »
Kimanis folk wants rep who speaks out | The Malaysian InsightEconomy, floods and infrastructure among the pressing issues in the area.
Read more »
India tells palm oil traders to stop buying from Malaysia | The Malaysian InsightSources tell Reuters Indian government made request 'unofficially' at meeting with vegetable oil industry players.
Read more »