First, china has devalued the yuan, cutting by 1. 9 . Francine that ends a peg to the dollar. The decision led to the currencies against oneday loss in more than a decade. Run us through the Immediate Impact on markets. Absolutely. This was an abrupt move by the chinese. The yuans biggest drop in two decades and a lot of lingering questions, or questions that will spark geopolitical questions that will have to be dealt with with trading partners. Lets talk about the market impact. We begin with equities which saw a more muted impact. The hang seng index now turning negative. The shanghai composite flat. It was higher earlier. That looks like it is basically unchanged. Same thing with hong kong. The dude see optimism in chinese shares on speculation we did see optimism in chinese shares on the speculation that this would boost exports. Not market friendly to those countries that would be adversely impacted, particularly in the asiapacific because of chinas move. Countries that are being
Name. About follow us on these sites we have more on abc 7 news at 11 over on channel 7. Good evening. Our other top stories tonight. Heart breaking blow tonight to victims of a San Francisco fire which heavily damaged several buildings last month. Fir broke out february 21 and now loot versus broken in stealing what belongings were left. Cornell with a story seen only on 7 news. Fire was fierce. Burning 3 3 Victorian Church at 15 last month. 19 people left without a home. Sense the fire the buildings have been off limits. But not to vandal who have lieutenanted everything. If he shows us is what left in the downstairs market. Hit by looters. Thousands in merchandise gone. What was your reaction when you got here. Found that you had been ripped off. Feel bad. Really bad. I work hard for it. He showed where vandal broke in through the basement. Packed a suitcase full of liquor bottle but left it. Look at this backpack loaded with school work. Spray paint. Also left behind by the culprit
Streets in the west bank to protest the 17day conflict in gaza. The west bank burned as violence spreads in the middle east. Outrage growing over the shelling of a school in gaza. The badly burned wreckage of the al algerie jet. Nobody survived. A couple dies after a tornado hit their campsite in virginia. Another sweltering day in the southwest with temperatures climbing well into the triple digits. Russians are firing artillery within rush to attack Ukrainian Military positions. The pentagon saying this is clearly a military escalation. Police say a patients deadly rampage at a Pennsylvania Hospital ended when he was shot by a psychiatrist. Chaos and panic. Everybody was running for cover. Ray rice of the Baltimore Ravens facing a twogame suspension. Two games. Are you kidding me . The director of the ohio state marching band has been fired amid the sexual culture. It nearly caused a global disaster almost two years ago. All that he strikes it into the ground. Moustakas comes around
This is al jazeera, ah, hello, i am emily anguish. This is the news our live from doha. Coming up in the next 60 minutes, ethiopia is warring sides agreed to a truce after 2 years of fighting between the government and to gripe forces. President putin says russia reserves the right to quit a deal allowing grain exports from ukraine through ours. After we joining blue gray menus. Supporters of brazilian president , jaya, boston, our demonstrate calling from military intervention. Hes not yet officially conceded to sundays election when at new la da silva. And another interest high expected from the u. S. Federal reserve to 5 inflation in ports and debt payments could become more expensive than the rest of the world. Im devin ashwin sports. As we continue our count down to the world cup here in castle on this confusion over the jesses camrie, were, were at the tournament leaving their fans frustrated with less than 18 days to get ah, ah, i begin the program with Ethiopian Government agre