日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

US EUROPE AFRICA ASIA 中文
Business / Economy

Yuan hit by turmoil in the market

By CHEN JIA (China Daily) Updated: 2015-07-09 08:31

Yuan hit by turmoil in the market

A $100 banknote is placed next to 100 yuan banknotes in this October 16, 2010 file picture illustration taken in Beijing. [Photo/Agencies]

But share dip unlikely to have major effect on real economy or financial system, say experts

Ripple effects from the stock market plunge have put the yuan under pressure and prompted the government to introduce more measures to restore stock exchange stability.

However, the sharp decline in share prices should have a limited impact on the overall financial system and the real economy, according to experts.

The offshore-traded yuan declined for three consecutive trading days to 6.2279 yuan per US dollar on Tuesday, the lowest level since April 13.

In the forward exchange market, the currency suffered its biggest daily fall in four months as foreign funds pulled money out of Chinese mainland stocks on signs that the central government may not be able to stem the market rout.

Meanwhile, the uncertainty over whether Greece will leave the eurozone will continue to strengthen the US dollar in the short term, putting more depreciation pressure on the yuan.

Investors bet on a drop to 6.4064 yuan per US dollar in a year's time, a 3 percent depreciation from the current value. This indicated concern over further financial risks arising from the stock market turmoil.

Thierry Wizman, a researcher at Macquarie Group, said foreign exchange traders are short-selling the offshore yuan when A-shares suffer heavy losses.

The benchmark Shanghai Stock Composite Index retreated to a three-month low of 3,507.19, a 5.9 percent drop on the day, at the close of trading on Wednesday, while the Shenzhen Component Index closed at 11,040.89, down 2.9 percent. The CSI 300 Index, which tracks shares in the largest companies listed in Shanghai and Shenzhen, fell 6.8 percent.

Nearly 1,000 stocks fell by the 10 percent daily limit. Almost half the companies listed on the two exchanges have suspended trading in their shares.

Hong Kong's Hang Seng Index dived to 23,516.56, a 5.84 percent fall, the largest daily drop in seven years.

"Stock declines (in recent weeks) should have a relatively limited impact on general household wealth, as equities account for only about 12 percent," said Wang Tao, UBS's chief economist in China.

"The effect on the real economy is also limited. We maintain our 6.8 percent GDP growth forecast for this year, though we do see stock market volatility bringing downside risk at the margin."

The People's Bank of China, the central bank, announced on Wednesday that it will provide sufficient liquidity for the stock market by injecting capital into China Securities Finance Corp, a State-owned company that provides margin financing loan services to qualified securities companies.

 

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 亚洲天堂黄色片 | 天堂色网 | 免费网站观看www在线观 | 成年人黄色大片 | 国产欧美第一页 | 在线国产一区二区三区 | 在线观看wwww | 爱草在线 | 日韩一区二区高清 | 六月丁香婷婷网 | 欧美日韩高清一区二区 | 亚洲一区高清 | 999这里只有精品 | 97福利视频 | 国产精品50页 | 性欧美18一19性猛交 | 日韩精品视频免费播放 | 亚洲精品aaa | jizz日本在线观看 | 色吧av色av | 村上凉子av| 欧洲一区二区视频 | 亚洲精品天堂网 | 四虎影库在线播放 | 天天操天天干天天舔 | 国产高清成人 | 亚洲特级毛片 | 日韩欧美亚洲一区二区 | 欧美精品第二页 | 日韩三级在线观看视频 | 男人天堂网av | 色一区二区| 国产一区二区三区高清 | 亚洲国产成人在线视频 | 小黄书在线观看 | 欧美三级三级三级爽爽爽 | 日韩有码一区二区三区 | 久久超级碰 | www视频在线观看网站 | 男人的天堂在线播放 | 欧美在线你懂的 |