When the world market starts in 2021, the Chinese yuan soars

After the global market reached its first day of trading in 2021, Chinese currencies rebounded against the dollar, and Japanese stocks fell as Tokyo officials considered emergency measures to stop the outbreak of the coronavirus.

For the first time since June 2018, the significant threshold of 6.5 per dollar was crossed, and in early Monday trading, the RMB traded on land rose 0.5% to RMB6.4986 per dollar.

Chinese currency enjoys the 2020 flag, rising 6.7% against the dollar, partly due to economic recovery from the coronavirus outbreak, and US President Joe Biden eases tensions between Beijing and Washington I’m hoping to do it.

The yuan has wiped out almost all of the losses it has suffered against the dollar since Donald Trump launched a trade war between the two countries two and a half years ago.

“The widening interest rate differential between China and the United States is also a capital inflow. [renminbi’s] Alicia Garcia Herero, Chief Economist for Natixis’ Asia Pacific region, added.

China’s offshore yuan was less regulated than the onshore yuan, rising 0.6% to 6.4645 yuan on Monday. Offshore currencies passed 6.5 handles on Thursday.

The CSI300 Index for Shanghai and Shenzhen listed stocks in mainland China showed that the latest Caixin / Markit Manufacturing Purchasing Managers Index slowed growth in China’s factory activity in December while remaining firmly in the expansion area. , Up 0.3% on Monday.

In Hong Kong, shares in China’s three major state-owned telecommunications groups fell after the Trump administration began banning US investment in businesses allegedly related to the country’s military on the New York Stock Exchange.

China Mobile fell 4.5% to a 10-year low, while China Telecom and China Unicom fell 5.6% and 3.6%, respectively. The Hang Seng Index, the Hong Kong benchmark, rose 0.5%.

Elsewhere, Japan’s benchmark Tokyo Stock Price Index has fallen about 1 percent after local media reports that the government can declare an emergency in Tokyo and its surroundings to counter the surge in coronavirus cases. did.

Wall Street S & P 500 Index futures remained largely unchanged, while FTSE 100 futures fell 0.2%.

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When the world market starts in 2021, the Chinese yuan soars

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