Shares of mining companies dropped Friday with the broader market as the price of oil and precious metals fell on growing concerns that rapid growth in China will slow.
The Dow Jones industrial average dropped nearly 100 points in early afternoon trading, led by sharp losses in energy and materials stocks.
Investors are worried that China might [...]
Posts Tagged ‘Chinese economy’
Mining company stocks fall amid China concerns
November 12th, 2010 by Financial Writer
Tags: Chinese economy, Dow Jones Industrial, exchange rates, inflation, precious metal, stock market
more...China’s Inflation Accelerates to 4.4%, Fastest Pace in Two Years
November 10th, 2010 by Financial Writer
China’s inflation accelerated to the fastest pace in two years in October, building the case for the central bank to add to last month’s interest-rate increase.
Consumer prices rose 4.4 percent from a year earlier, boosted by food costs, a statistics bureau report showed in Beijing today. That was more than the 4 percent median forecast [...]
Tags: bank of china, central bank, Chinese economy, consumers, financial crisis, inflation
Yuan Set for Weekly Rise on Speculation of More Foreign Pressure for Gains
November 4th, 2010 by Financial Writer
The yuan was set for its first weekly gain in three weeks on speculation foreign governments, notably the U.S., will step up calls for the currency to appreciate when leaders from the Group of 20 nations meet next week in Seoul.
The yuan advanced 0.19 percent yesterday after the Federal Reserve said on Nov. 3 that [...]
Tags: banks, businesses, Chinese economy, currency market, economic growth, economic recovery, Federal Reserve, Global Economy, us economic
China’s Stocks Drop as Banks, Developers Fall on Rate Concern
November 2nd, 2010 by Financial Writer
China’s stocks fell for a second day after government officials said they would take further steps to control inflation after raising interest rates last month.
Industrial & Commercial Bank of China Ltd. and developer China Vanke Co. paced declines among financial stocks after the central bank said it will intensify the use of price tools to [...]
Tags: Asian stocks, bank of china, Chinese economy, economic, economic growth, economy recovery, financial markets, interest rates, loans, us economy
China Day Ahead: U.S. Says Rare Earth Isn’t a Threat; Global Trade Balance
October 31st, 2010 by Financial Writer
The U.S. Defense Department has concluded that China’s monopoly on rare-earth materials, used in military hardware such as missile guidance and radar systems, poses no threat to national security, according to a person familiar with a year-long study by the Pentagon.
The report notes that rising prices and supply uncertainties are spurring private investment in new [...]
Tags: Chinese economy, inflation, loans, money, stock prices
Administration delays China currency report
October 15th, 2010 by Financial Writer
The Obama administration announced Friday it will delay a scheduled report on whether China is manipulating its currency to gain trade advantages until after upcoming meetings with world leaders next month.
Instead of putting out a report, the Treasury Department issued a statement praising China for letting the yuan appreciate by roughly 3 percent since June [...]
Tags: Chinese economy, economy recovery, Global Economy, U.S. markets
Yuan Climbs to Strongest Since 1993 After Obama Criticizes China Policies
September 20th, 2010 by Financial Writer
The yuan climbed to the strongest level since 1993 after President Barack Obama criticized China for not letting its currency strengthen.
China’s leaders haven’t done “everything they said would be done” to allow appreciation, Obama said at an hour-long town hall discussion in Washington. Yuan forwards gained for a fourth day as the dollar weakened against [...]
Tags: Chinese economy, currency market, economic growth, economy recovery, financial markets, financial system, japan's economy, us economy
If no one takes on China, currency wars still loom
September 17th, 2010 by Financial Writer
Treasury Secretary Timothy Geithner this week gave a timid nudge to China to do more about lifting the value of the yuan, which is widely recognized to be kept artificially, and vastly, undervalued to the benefit of Chinese exporters and at the expense of almost everybody else.
Even the International Monetary Fund estimates the yuan to [...]
Tags: Chinese economy, economic growth, economists, european economy, financial crisis, financial system, IMF, us economy, us treasury
China’s Stocks Fluctuate After Wen Comments; SAIC Gains, Developers Drop
September 13th, 2010 by Financial Writer
China’s stocks fluctuated after Premier Wen Jiabao said the world’s fastest-growing economy is in “good shape,” while cautioning that rising property prices threaten to stoke unrest.
SAIC Motor Corp., the nation’s largest carmaker, added 0.8 percent after an indicator of China’s economic outlook increased for a third month in July. Air China Ltd. gained among airlines [...]
Tags: Chinese economy, economic growth, economic recovery, financial crisis, Global Economy, real estate, us economy
China’s consumer price index jump 3.5%
September 11th, 2010 by Financial Writer
China’s consumer price index in August jumped at its fastest rate in almost two years while all 39 of the country’s industries continued to grow, according to data posted Saturday.
Driven higher by China’s worst flooding in years, the consumer price index, a key inflation gauge, gained 3.5% from a year earlier and 0.2% from July, [...]
Tags: bank of china, Chinese economy, commercial industry, consumers, interest rates, wall street