(Updates prices, adds context) HONG KONG, June 2(Reuters) – Chinese stocks listed in Hong Kong weakened to near a one-month low on Monday and offshore yuan slipped as renewed Sino-U.S. tariff tensions weighed on sentiment. Concerns over U.S.-China trade tensions flared up again following a fresh spat over tariffs. China’s Commerce Ministry rebuked U.S. President…
Hong Kong faces an unprecedented opportunity as an offshore hub for the currency, despite what is broadly seen as short-term pressure on the yuan, according to investment bank China International Capital Corporation (CICC). In the past, depreciation was largely driven by a wide interest rate differential between the US dollar and the yuan, which prompted…
Hong Kong is expected to play a bigger role in the internationalisation of the yuan as liquidity increases and uses for businesses and individuals broaden significantly, according to officials and market participants. The city was already the world’s biggest offshore yuan business centre, with the largest offshore liquidity pool, foreign-exchange market and over-the-counter market for…
The People’s Bank of China (PBOC) said it would tender central bank bills totalling 60 billion yuan (US$8.2 billion) in Hong Kong on Friday, marking the second time this year it has used the policy tool to stabilise the yuan amid tariff tensions with the US. The PBOC said it would tender 40 billion yuan…
China’s yuan slipped and traded near a 13-month low against the dollar on Wednesday, weighed down by broad greenback strength and widening yield differentials in the world’s two largest economies. Meanwhile, trading was tepid as many global markets have headed into holiday season. As of 0251 GMT, the onshore yuan was 0.05% lower at 7.2986…
China’s domestic yuan traders appear to be more confident than their offshore counterparts that the currency’s turbulence will be contained around the US presidential election period. A gauge of one-month implied volatility for the onshore yuan based on options is trading near the largest discount since 2022 to a similar measure for its offshore counterpart,…