Dollar not Yuan: Beijing has actively promoted international use of its currency, extending arrangements with foreign central banks, encouraging trade settlement in yuan and pushing its stock and bond markets to foreign investors. However, writes Tom Buerkle, according to the IMP, in the fourth quarter of 2016 the yuan still only accounts for just over 1% of global foreign-exchange reserves and remains insignificant when compared to the reserves of $1.6 trillion worth of euros and $5.1 trillion of US dollars. READ THE STORY HERE Asia’s soaring equities: Asian equity markets have been world-beaters so far this year as global investors unwind record positions in the US dollar and pump the proceeds into cheaper, higher-yielding assets throughout the region reports Nick Westra . The MSCI Emerging Markets Asia Index surged 14.3% this year through March 29, outpacing a 6% gain in MSCI World, and the corresponding benchmarks for China, India, Korea, Singapore and Taiwan all notched double-digit gains.READ THE STORY HERE
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