A man monitors stock prices at a brokerage house in Beijing on May 14, 2019. Photo: Associated Press

Trade war uncertainties, probe in US spotlighting Chinese banks spook investors, sending China and Hong Kong stocks tumbling

  • Three Chinese banks spotlighted in US sanctions probe, sending shock waves through the sector
  • Gold-linked stocks rare winners as investors embrace the safe haven
Topic |   Stocks

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A man monitors stock prices at a brokerage house in Beijing on May 14, 2019. Photo: Associated Press
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Cutting off China’s larger banks from dollar transactions could trigger a cascade of effects that would disrupt the world economy. Photo: Reuters

US judge holds three Chinese banks in contempt for refusing to comply with probes into violations of North Korea sanction

  • According to court rulings in a 2017 civil forfeiture action, the banks were Bank of Communications, China Merchants Bank and Shanghai Pudong Development Bank
  • Pudong Bank stands at risk of losing access to US dollars, the lifeblood of global finance
Topic |   Banking & Finance

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Cutting off China’s larger banks from dollar transactions could trigger a cascade of effects that would disrupt the world economy. Photo: Reuters
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