Business Jul 14, 2023
Signs 'crypto winter' ending as regulatory fog begins to lift
Crypto assets are now trading near or above levels plumbed following the collapse of the FTX exchange last November.
Crypto assets are now trading near or above levels plumbed following the collapse of the FTX exchange last November.
Beijing has been tightening rules on local government borrowing for years, driving their financing vehicles deeper into private markets to raise money.
The Swiss bank's announcement helped stem heavy selling in financial markets in Asian morning trade on Thursday, following torrid sessions in Europe and the United States overnight.
Although clients have not made specific trades related to that risk, their overall exposure to China has reduced for other geopolitical reasons.
Japan is now alone among major economies in its stance of enforcing near-zero interest rates, and hedge funds and momentum-chasers have made hay.
Bond yields have leapt to their highest since the BOJ began its policy of targeting interest rates in 2016, as traders figure that something has got to give.
Analysts say a stable yuan provides a pillar of fundamental strength in the region, as it reflects a strong Chinese economy.
What's whacked markets and put investors on guard is the unpredictable application of the "common prosperity" doctrine, especially as Xi has worked to consolidate his power.
Slow vaccinations and a new wave of coronavirus infections have delayed economic recoveries in countries like Thailand, Indonesia, the Philippines and India.
Boosted by surging export receipts and investment flows, the value of foreign cash deposits in China's banks leapt above $1 trillion for the first time in April.