LATEST NEWS : Xi Says China Must Adapt to ‘New Normal’ of Slower Growth

Chinese President Xi Jinping said the nation needs to adapt to a “new normal” in the pace of economic growth and remain “cool-minded” amid a slowdown that analysts forecast will lead to the weakest expansion since 1990. continue reading at bloomberg.com

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Asia Currencies Have Worst Week Since November on China Concern

Asian currencies had their worst weekly loss in almost three months as signs of a deeper economic slowdown in China and the Federal Reserve’s support for tapering asset purchases weighed onemerging markets. South Korea’s won led the declines as a gauge of manufacturing in China, the nation’s biggest export market, fell to a seven-month low. Thailand’s […]

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Fink to Mobius Touting Emerging Stocks Fails to Stem Outflow

For all their recommendations to buy emerging-market stocks, the world’s largest money-management firms haven’t convinced some investors that the worst start to a year since 2009 is over. continue reading at bloomberg.com

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Mobius Says Emerging-Market Selloff to Deepen Amid Outflows

The worst isn’t over for emerging markets after the benchmark stock index sank to a five-month low and the nations’ currencies tumbled, said Templeton Emerging Markets Group’sMark Mobius. “The negative sentiment is pretty much in place so you can expect a lot more selling,” Mobius, 77, who oversees more than $50 billion in developing-nation assets as an executive chairman at Templeton, […]

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China’s Rescue of Troubled Trust May Stoke Risk-Taking

China’s eleventh-hour rescue of wealthy investors in a high-yield trust threatens to drive more money into the nation’s $6 trillion shadow-banking industry, undermining regulators’ efforts to deter excessive risk-taking. Industrial & Commercial Bank of China Ltd., the nation’s largest lender, yesterday told customers who had invested in the 3 billion-yuan ($496 million) trust product that they […]

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Argentina Seen Extending World’s Biggest Currency Decline

Argentina’s peso is poised to extend losses  government said it will relax controls on the currency, a day after allowing the biggest devaluation since 2002 to arrest a decline in foreign reserves.  Argentines will be able to buy dollars for savings in proportion to their income, Cabinet Chief Jorge Capitanich said today in Buenos Aires. The […]

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Yuan Gains for Sixth Day as Central Bank Sets Record Fixing

China’s yuan advanced for a sixth day, the longest winning streak since May, after the central bank strengthened the currency’s reference rate to a record. The government called for “unrelenting” implementation of its economic policies and reforms to consolidate the nation’s recovery from a slowdown, according to a State Council statement released over the weekend. Asia’s largest […]

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U.S. May Join Germany of 1933 in Pantheon of Defaults

Reneging on its debt obligations would make the U.S. the first major Western government to default since Nazi Germany 80 years ago. Germany unilaterally ceased payments on long-term borrowings on May 6, 1933, three months after Adolf Hitler was installed as Chancellor. The default helped cement Hitler’s power base following years of political instability as […]

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First U.S. Shutdown in 17 Years Imminent With No Talks

“Republicans and Democrats say they don’t want to close the government, though neither side is budging from their positions. House Republicans, led by Speaker John Boehner, want to delay President Barack Obama’s Affordable Care Act for a year and make other changes to the law. Democrats, led by Obama, say that won’t happen. Obama will […]

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Thai Stocks Slump 21% From High in Longest Decline Since 1998

“Thai stocks retreated for a ninth day, sending the benchmark index down more than 20 percent from this year’s high, amid concern foreign outflows will accelerate as the economy weakens. The baht and government bonds dropped. The benchmark SET Index lost 2.7 percent to close at 1,293.97 in Bangkok, its longest losing streak since 1998. […]

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