• Mon
  • Oct 20, 2014
  • Updated: 1:28pm

Foreign Exchange Market

The global foreign exchange (forex) market has ballooned in recent decades as more and more economies liberalise their capital accounts. The Basel-based Bank for International Settlements said average daily turnover in global forex markets was an estimated US$3.98 trillion as of April 2010.

Yuan's sharp drop puts investors on alert for reversal of rising trend

The yuan has recently been something of a safe haven among emerging market currencies, yet market players have learned from a bloody lesson over the past week that it is no longer an easy, one-way bet.

Monday, 3 March, 2014, 4:52pm 4 comments

New York regulator probing biggest foreign exchange trading banks

New York banking regulator Benjamin Lawsky is seeking documents from some of the biggest banks in foreign exchange trading, including Deutsche Bank, Goldman Sachs and Barclays, a source familiar with the matter said Wednesday, as a global probe into possible market manipulation widens.

6 Feb 2014 - 3:45pm

French bank chief targets London’s euro status

Britain should relinquish its status as the euro’s financial hub in order to give eurozone members more control over the single currency, France’s central bank governor has said.

In an interview published in Monday’s Financial Times, Christian Noyer of the Banque de France claimed there was “no rationale” for the City of London’s leading role in euro finance.

3 Dec 2012 - 9:37am

Yuan hailed as the world reserve currency

Its supporters excitedly describe it as rise of the "redback" - red for communist China as opposed to the greenback of the US. Now two distinguished academics have joined a chorus of bankers anxious to share in the lucrative business opportunities they see in the internationalisation of the yuan to challenge the US dollar as the global currency of choice.

7 Nov 2012 - 3:36am

European stocks mixed, sterling gains as Britain exits recession

European stock markets posted mixed results on Thursday but the pound gained ground after data showed that Britain had marched smartly out of recession, news that offset a sharp drop in profit at Spanish banking giant Santander.

26 Oct 2012 - 3:11am

Net money inflow takes heat off China's central bank

The surge of foreign exchange into the mainland last month is expected to ease pressure for monetary loosening in the near term.

But the influx is unlikely to persist, given the gloomy trade outlook and lack of appreciation in the yuan, analysts say.

24 Oct 2012 - 4:07am

Uncertainties over central bank policies take shine off carry trade

The US$4 trillion-a-day foreign-exchange market is losing confidence in central banks' abilities to boost a struggling world economy.

23 Oct 2012 - 4:26am

Business Digest, September 13, 2012

Capital outflows revised lower

13 Sep 2012 - 3:00am

Shanghai B-share losses mount for fourth session

Shanghai's hard-currency B shares dropped for the fourth consecutive day yesterday, posting its biggest one-day loss in 10 months, amid rising fears about the tiny market's fate.

The Shanghai B-share Index lost 12.27 points, or 5.64 per cent, to 205.225. It was the biggest daily decline since the indicator tumbled 6.87 per cent on September 22 last year.

31 Jul 2012 - 12:00am

Smart money

Best websites for avoiding investment scams


23 Jul 2012 - 12:00am

China in danger of losing gold medal for competitiveness

The 2012 Olympic Games aren't due to begin for another 10 days, but China has already taken the gold medal for competitiveness.

When the athletes of Team US march into London's new Olympic stadium for the opening ceremony next Friday, they will be wearing uniforms made, not in America, but in China.

17 Jul 2012 - 12:00am

Dealer's choice

If an investor decides to take the plunge into foreign-currency investments, there are plenty to choose from.

2 Jul 2012 - 12:00am

Money doesn't grow on trees

A HK$10 note may look like a thin, shiny piece of paper, but if you think carefully, it's worth more than it looks. If dollar notes were only colour-printed handouts, none of us would need to worry about the pain caused by the 2008 global financial crisis.

Despite the continuing European financial crisis, should our supplies of money run out, we could simply print some more.

27 Jun 2012 - 12:00am


Not won over by Yam's arguments

Joseph Yam Chi-kwong is an honest person.

I once praised him, through these columns, for his 'honesty in admitting being slow in problem recognition'. With his recent exposition on the future of Hong Kong's monetary system, I observe further instances of his candour.

26 Jun 2012 - 12:00am

Looming US dollar shortage could wreak massive damage

Yesterday the yuan fell to its weakest against the US dollar since late last year. In just the last couple of months, the Chinese currency has fallen 1.3 per cent. That's a big slide for a currency most people believe is locked into a long-term strengthening trend (see the first chart).

26 Jun 2012 - 12:00am