Market News
China hurries to shore up sliding yuan and stock markets - REUTERS
By Samuel Shen and Summer Zhen
- Summary
- China's yuan hits 16-month low as concerns mount about economy, US tariffs
- China benchmark stock index fell 5% last week, biggest drop in more than two years
- PBOC may issue more yuan bills to curb speculation, local media reports
- Stock exchanges ask fund managers to restrict stock selling, sources say
SHANGHAI/HONG KONG, Jan 6 (Reuters) - China's stock exchanges and central bank rushed to defend a tumbling yuan and falling stock markets on Monday, trying to soothe investors concerned about Donald Trump's return to the White House and Beijing's ability to revive the economy.
With two weeks before Trump begins a second U.S. presidency, his threats of big tariffs on Chinese imports have rattled the yuan, driven mainland bond yields down and got stocks off to a rough start to 2025.
