Asian shares rose on Wednesday and the U.S. dollar languished near multi-month lows after U.S. Federal Reserve officials reaffirmed a dovish monetary policy stance, reassuring investors worried about the prospect of rising inflation. European share markets were set to follow suit, with pan-region Euro Stoxx 50 futures up 0.37% in early deals. German DAX futures .
UPDATE 1-Crypto miners halt China business after Beijing cracks down, bitcoin dives Reuters 1 hr ago
(Adds context on U.S. moves)
SHANGHAI, May 24 (Reuters) - Cryptocurrency mining operators, including a Huobi Mall and BTC.TOP, are suspending their China operations after Beijing stepped up its efforts to crack down on bitcoin mining and trading, sending the digital currency tumbling.
A State Council committee led by Vice Premier Liu He announced the crackdown late on Friday - the first time the council has targeted virtual currency mining, a big business in China that accounts for as much as 70% of the world s crypto supply.
Bitcoin took a beating after the latest Chinese move, and is now down nearly 50% from it’s all-time high. Elsewhere, Ether fell to a two-month low on Sunday,…
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SHANGHAI A collapse in China’s blue-chip share prices has raised the ire of investors, angry at the way asset managers have crowded into a handful of large stocks and increased market volatility.
Liquor giant Kweichow Moutai, Asia’s fourth-biggest stock and a perennial market darling, has become the poster child of the recent selloff as its steep losses hurt mutual funds heavily invested in its shares.
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Try refreshing your browser, or Moutai hangover highlights risks in China s crowded stock bets Back to video
Its shares have shed a quarter of their value since a Feb. 18 peak as concerns over Beijing’s monetary tightening triggered a sharp sell-off in larger stocks. More than 900 stock funds lost at least 20% in net assets over the past month, according to fund distributor eastmoney.com.
04 Feb 2021 / 18:28 H.
By Luoyan Liu and Andrew Galbraith
SHANGHAI, Feb 4 (Reuters) - A slump in Chinese small-cap stocks has left many retail investors nursing losses despite strength in the broader market, as institutional investors flock to blue-chip names.
The CSI1000 index, mainly comprising firms with a market value of less than 20 billion yuan ($3.09 billion), dropped 2.2% on Thursday to a near eight-month low, bringing its losses for the year to more than 7%.
China s CSI300 blue-chip index, in contrast, is up more than 5% for the year after a 27% rise in 2020. This is a stock crash bull run, said Eric, a retail investor in the central province of Henan, who declined to give his last name.