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Developing currencies strengthened after central banks in China and Japan pushed back against the dollar’s recent rally.MSCI’s index of developing-nation currencies rose. ....
New bank loans in China almost quadrupled in August from July to an all-time record of 1.36 trillion yuan ($186.18 billion), the central bank announced on Monday. The figure was far above expectations and showed that the intensive series of macro policies announced in August had an almost immediate effect in boosting market confidence, experts said. ....
China’s financial regulators have the capability, confidence and conditions to maintain basic stability of the yuan’s exchange rate, the People’s Bank of China (PBC) said on Monday, pledging more efforts to correct pro-cyclical and one-sided behavior to curb speculation and other risks. ....