Markets and investing
China Raises Foreign Exchange Reserve Requirement to 6%
The People’s Bank of China will increase the foreign exchange deposit reserve ratio for local institutions from 4% to 6% on November 15, citing liquidity management.
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Markets and investing
Offshore Yuan Falls After China Raises FX Reserve Requirement
The yuan weakened by as much as 0.3% offshore after the People’s Bank of China announced that it will raise the foreign-exchange reserve requirement ratio from 4% to 6% on Nov. 15.
Markets and investing
Oil edges higher after report of US strike on Iran’s Qeshm Island
Brent and US crude rose 0.5% in early Asian trading as reports of a US strike heightened concerns about further escalation and disruptions to Middle East supplies.
Markets and investing
He Lifeng Urges Hong Kong to Use Its Governance Model to Support Global Trade
China’s Vice Premier He Lifeng called on Hong Kong to draw on its One Country, Two Systems model to promote openness to global trade.