Tencent beats, gold makes comeback

Tencent beats, gold makes comeback

(ATF) Some seemingly better US virus news, slightly better than expected July US PPI (+0.3%) and marginally higher US bond yields provided a welcome excuse on Wednesday for profit-taking on gold, which on August 8 had closed at a record high of $2,059 (GC1). A sharp drop overnight to $1,874 ...

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Goldrush at an end? No, but yuan best bet

Goldrush at an end? No, but yuan best bet

(ATF) Lower numbers of Covid hospitalisations in the US and a Trump hint at lower capital gains taxes lifted US stocks overnight; risk-on sentiment carried over to the Asian trading day and provided, in particular, relief to badly mauled Hong Kong equities (Hang Seng Index +2.11%), and after the Asian ...

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Trump and yuan offer China buying opportunities

Trump and yuan offer China buying opportunities

(ATF) Microsoft founder Bill Gates, whose foundation has spent US$350 million on combating the Covid-19 pandemic, told an American TV audience on Sunday that the US government's mishandling of the pandemic, in particular, testing was "mind-blowing". "You're paying billions of dollars ... to get the most worthless test results of ...

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After kneejerk reaction to Trump app ban, yuan regains composure

After kneejerk reaction to Trump app ban, yuan regains composure

(ATF) US President Donald Trump has extended his anti-China tech war beyond Huawei to banning Americans from dealing with video-sharing sensation TikTok and the WeChat messaging app and their parent companies Bytedance and Tencent on national security grounds. Chinese and most Asian stock markets lost ground today on the renewed ...

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Chinese yuan and Korean won star, gold continues to shine

Chinese yuan and Korean won star, gold continues to shine

(ATF) The Chinese and Korean currencies have outperformed regional and global competitors since late May and the reasons for such star performances are not difficult to come by: both nations have done a very fine job in coping with the Covid-19 pandemic and are clearly reaping the economic rewards. China ...

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Gold above $2,000, yuan jumps to five-month high

Gold above $2000, yuan jumps to 5-month high

(ATF) China's central bank, the People's Bank of China (PBoC), set central parity for the yuan (CNY) at 6.9752 to the US dollar on Wednesday morning. It proved quite a bit too low as a forecast of the currency's movement in the course of the trading day. By 5pm HK ...

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Gold resumes climb as US dollar struggles

Gold resumes climb as US dollar struggles

(ATF) After a brief pause on July 30, when gold (generic 1st 'GC' Future) dropped sharply for a day to $1,966.80, 'GC1' has recovered and now (7pm HK time) trades at $1,992.80. As I wrote at the time, it was a blip and not a change in trend. How, indeed, ...

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