SHANGHAI: Chinese stocks on Monday handed back their gains from a bounce late last week as worries mount ahead of a U.S. move to impose $34 billion of tariffs on Chinese exports.
The yuan, fresh off its worst month on record, continued to lose ground against the dollar, trading at around 6.6450 at 0606 GMT from a close of 6.6225 on Friday.
Chinese 10-year treasury futures for September were down in the morning but reversed course in the afternoon, inching up about 0.1 percent.
After rising last week to a more than one-year high on trade war fears, the cost to insure exposure to Chinese debt fell on Monday. The spread of the five-year credit default swap rate on Chinese sovereign debt fell 4.7 percent to 69.79 basis points. Markets are jittery ahead of a July 6 deadline when the United States is due to impose the tariffs on Chinese exports. Beijing is expected to respond with tariffs of its own on U.S. goods.
In this picture, the PCJCCI logo can be seen on September 1, 2022. — Facebook/Pakistan China Joint Chamber of...
A representational image of a US flag pictured alongside a street sign reading "Wall Street" in the New York city. —...
A security guard sits in front of a wall with signs and slogans at the operation building at the Pakistan Steel Mills ...
A worker cleans the entrance to the headquarters of Bank Indonesia, the nation's central bank, in Jakarta, Indonesia....
The MCB's logo is seen on a wall outside the bank's head office. — MCB websiteKARACHI: MCB Bank Limited on...
A foreign currency dealer counts US dollars at a shop in Karachi. — AFP/FileKARACHI: The rupee lost ground against...
