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China defends exchange rate after US Treasury warning BEIJING: China on Wednesday defended the valuation of its currency and pushed back against a US Treasury report expressing concerns over the yuan's sharp slide since January.The statement by Chinese foreign ministry spokeswoman Hua Chunying came a day after the Treasury issued its twice-yearly report, in which it declined to brand China a currency manipulator but said that the yuan, or renminbi (RMB), "remains significantly undervalued"."China's position is that China will keep forward with the reform of RMB exchange rate mechanism," Hua told reporters at a regular briefing. "This will not change." "We hope the American side can make concerted efforts with China to improve trade and investment relations with China," she added.Washington has repeatedly voiced concern over the valuation of the yuan, arguing that Beijing keeps its currency artificially low to boost Chinese exports.But the Treasury has shied away from calling China a "manipulator" -- despite the urgings of ...

Yen weakens in Asia as buoyant stocks boost sentiment TOKYO: The yen weakened in Asia on Wednesday as the head of the Bank of Japan said the country was on target to meet its inflation target next year while buoyant equity markets lifted investor sentiment.In Tokyo afternoon trading, the greenback fetched 102.19 yen, up from 101.94 yen on Tuesday in New York, as traders moved out of the Japanese unit which is seen as a safe haven during times of turmoil and uncertainty.The euro ...
Dollar holds steady in Asia on upbeat US economy view TOKYO: The dollar held firm in Asia on Tuesday after solid retail sales data boosted confidence in the US economy while tensions in Ukraine and speculation over more European Central Bank monetary easing weighed on the euro. In midday Tokyo trade, the greenback fetched 101.87 yen, up from 101.82 yen in New York Monday afternoon.The euro fetched $1.3815 and 140.75 yen, little changed from $1.3820 and 140.74 yen in US trade.US stock prices jumped on ...
China's yuan holds steady as market awaits Q1 data HONG KONG: China's yuan held steady against the dollar on Monday following a weaker official midpoint, with the market awaiting a run of economic indicators this week to gauge growth momentum in the world's second-largest economy.Spot yuan changed hands at 6.2118 near midday, slightly weaker than Friday's close of 6.2113. It traded in a tight range of 6.2094 and 6.2142 in the morning.The People's Bank of China (PBOC) set the yuan midpoint at 6.1531, the ...
Euro down in Asia on Draghi easing comments TOKYO: The euro weakened in Asia Monday after European Central Bank chief Mario Draghi said policymakers may need to take action to stem the unit's rise.In Tokyo midday trade, the single currency weakened to $1.3848 and 140.62 yen, down from $1.3882 and 141.11 yen in New York Friday.The dollar also fell to 101.54 yen, from 101.65 yen in US trading.At the weekend, Draghi hinted at further policy moves after the ECB stood pat at its ...
Won leads Asia FX weekly gains, but rupiah down SINGAPORE: The South Korean won led weekly gains among emerging Asian currencies with funds flowing into the region's battered stocks and bonds, but the Indonesian rupiah on Friday hit a one-month low on election disappointment.The won ended local trading up 0.5 percent at 1,035.0 per dollar, its strongest domestic market close since August 2008, on exporters' demand for settlements.Foreign investors extended their buying spree in Seoul's main stock market to a 13th consecutive session, providing ...
Dollar edges up in Asian trade TOKYO: The dollar on Friday clawed back some of the losses suffered against the yen earlier in the week as investors welcomed data showing US jobless claims at a seven-year low.In midday Tokyo trade, the greenback changed hands at 101.64 yen, compared with 101.44 yen in New York. The euro rose to 141.23 yen from 140.88 yen while it also edged up to $1.3894 from $1.3888.Dealers said the dollar was consolidating after hitting a three-week ...


Index Closing Chg%
Arrow DJIA 16,262.56 0.55
Arrow Nasdaq 4,034.16 0.29
Arrow S&P 1,842.98 0.68
Arrow FTSE 6,541.61 0.64
Arrow DAX 9,173.71 1.77
Arrow CAC-40 4,345.35 0.83
Arrow Nikkei 13,996.81 0.62
Arrow H.Seng 22,671.26 1.60
Arrow Sensex 22,484.93 0.64

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Foreign Debt $60.9bn
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WeeklyApril 14, 2014
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