Yuan fall ‘dictated by market’
Recent falls in the yuan exchange rate against the US dollar are based entirely on market forces, a senior official said on Tuesday after Premier Li Keqiang met with visiting US Treasury Secretary Jacob Lew.
Emerging Markets
China’s April fiscal revenue rises 9.2 pct
China’s fiscal revenue climbed 9.2 percent year on year in April to reach 1.25 trillion yuan (202.92 billion U.S. dollars), the Ministry of Finance said on Monday.
China Gold Bar Consumption Drops
Gold (GLD, quote) demand in China dropped off in the first quarter of 2014. Economist are citing the weakness in gift giving of gold bars.
Alibaba files for IPO in US
China’s e-commerce giant Alibaba has filed initial public offering (IPO) document to the U.S. Securities and Exchange Commission (SEC) with plans to raise one billion U.S. dollars, according to SEC information and well-informed sources.
Tencent stresses mobile Internet platform
Mobile Internet applications have made people’s lives much more convenient, but Internet companies need to build a platform to help people get access to those apps more easily, Ren Yuxin, the Chief Operating Officer from Tencent, China’s Internet giant said Monday.
Ahead of the Open
As we begin the first full week of trading for May one has to wonder if the old saying will hold true…”Sell and Go Away In May”.
China mulls ‘mega’ FTA
China (FXI, quote) has proposed studying the feasibility of a mega free-trade agreement in the Asia-Pacific region as the many flourishing FTAs in the area could burden businesses with different standards, a senior official said on Wednesday.
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Economic Problems Continue to Plague the Ukraine
Reports overnight show Ukraine’s GDP fell by 1.1% yr/yr for the first quarter in 2014. Ukraine’s department of State Statistic Services report also indicated its economy dropped 2% in January-March from the previous quarter.
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