(Bloomberg) The cost to borrow the yuan in Hong Kong rose to the highest in almost two years, signaling its scarcity in the city — and reminding traders of a currency-strengthening tactic once employed by Beijing.Most Read from BloombergChina Weighs Stock Market Rescue Package Backed by $278 BillionIndia Tops Hong Kong as World’s Fourth-Largest Stock MarketFlorida Governor DeSantis Drops Out of 2024 Race, Endorses TrumpHong Kong Stocks at 36% Discount Show True Depth of China GloomMorgan Stan
Yuan Funding Costs Jump in Hong Kong Amid Signs of Cash Squeeze bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
The official manufacturing purchasing managers index fell to 49.4, the second straight month of contraction, according to a Thursday statement from the National Bureau of Statistics. While economists expected a decline in the index, the number was lower than estimates.
China factory, services activity shrink in snag for recovery financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
The contraction in China’s home sales and property investment both deepened in October, a steeper downturn that may push the government to do more to shore up the struggling housing market. Investment in property development fell 9.3 percent in the first 10 months of 2023, compared with a 9.1 percent…