Even after President Xi Jinping has asked for China’s central bank to trade government bonds, the outcome is likely to remain limited as the bank does not want to trigger negative outcomes for inflation and exchange rates.

The China-EU Working Group on Financial Cooperation has met for the first time, and analysts say that while such meetings between economic heavyweights are in the world’s best interests, progress may be slow to come.

The move will make loans more costly for consumers and businesses, but banks will be able to earn more money from lending.

Second Finance Minister Amir Hamzah Azizan’s forecast comes on the back of Malaysia’s stronger economic outlook and benign inflation.

The stowaway rodent was spotted aboard a SriLankan Airlines flight from the Pakistani city of Lahore, triggering an aircraft-wide search to ensure it had not chewed through critical components.

China’s latest act is to invite more foreign players to its US$232 trillion onshore repo market. As a precursor, Hong Kong will treat Chinese government bonds and policy bank bonds as eligible collateral in its yuan liquidity facility.

Malaysia’s 2024 economic growth will be driven by higher external demand and strong domestic spending, on expectations of accelerated global trade, the bank says.

With the former president seemingly a lock for the Republican nomination, investors are preparing for a possible return to the days of the US-China trade war which steamrollered the yuan during his term in office

China has the world’s largest foreign exchange reserves, but some have argued Beijing needs to reduce its size, while others believe having a sizeable holding remains important.

China Beijing Equity Exchange said it has no connections to the overseas crypto company CBEX Group, as authorities’ maintain hostility towards such assets.

A new for app making international payments from HSBC Holdings will directly challenging the dominance of fintechs like Revolut and Wise that have gained tens of millions of retail customers by offering cheap foreign exchange.

Until the Asian financial crisis of 1997, many Korean banks operated nights shifts. Now some are bringing them back as the government pushes for round-the-clock won trading.

Prosecutors and forex regulators told to strengthen supervision, with cases involving Tether stablecoin highlighted.

A prominent Chinese economist has flagged two key risks that could keep pressure on the yuan: weaker-than-expected fiscal expansion and a further contraction in the property market.

Zhu Hexin’s political pedigree is a bit different than some of his predecessors, starting with a factory job and working his way to the upper echelon of Chinese finance.

The war chest used to defend Hong Kong’s currency posted a third quarter loss but still reported strong returns in the first nine months of 2023 as robust performance in the bond market offset losses in stocks.

It has been nearly four months since the US Federal Reserve’s last interest rate hike – the 11th since early 2022 – but the impact still lingers in China’s markets, and an outflow of capital has persisted while the yuan depreciates.

The Indonesian president on Tuesday described the rupiah’s recent depreciation as ‘safe’, while warning of the potential for soaring oil prices and capital outflows to affect the economy.

Foreign funds have taken US$5.1 billion out of their bets in China’s A-share market this month, compounding the worst capital flight from the nation in seven years in September.

Two refining sources said India’s settlement for Russian oil in yuan increases their costs, as rupees first need to be converted to Hong Kong dollars and then yuan.

The world’s second-largest economy offloaded US$13.6 billion worth of US debt in July, but China remains the second-largest foreign holder of US Treasury bills, having been surpassed by Japan in mid-2019

Intentionally weakening the yuan would be a boon for cheaper Chinese exports, but on the whole, a devalued yuan could make China’s problems much worse.