China's offshore yuan hit a record low on Tuesday, fuelling fresh selling in global financial markets, after the United States branded Beijing a "currency manipulator" in a rapidly escalating trade war between the world's two biggest economies.
Formally declaring China a currency manipulator may scratch a long-term itch for U.S. President Donald Trump, but the move provides few new tools that have not already been employed in two years of trade negotiations with Beijing.
China's official Communist Party newspaper said on Tuesday the United States was "deliberately destroying international order", a day after Washington branded Beijing a currency manipulator in a rapidly escalating trade dispute.
Amazon.com Inc Chief Executive Officer Jeff Bezos offloaded $990 million worth of shares in the company last Thursday and Friday, taking the total value of shares sold last week to $2.8 billion.
JPMorgan confirmed it had won an auction to hold a majority equity stake in its Chinese asset management joint venture (JV), becoming the first foreign firm to move closer to taking control of an onshore funds business under new rules.
CNBC's Jim Cramer urges investors to keep the trade war in perspective.
If you slowly buy the stocks of companies with great fundamentals, you will be in good shape when the smoke clears around trade tensions, Jim Cramer says.
During this bull market, one-month after the market sell-off the average return is 4%.
HSBC reported on Monday its first-half pretax profit rose 15.9% and announced a further buyback of $1 billion, defying some analysts' expectations it might pause its strategy of returning extra capital to investors.
There's a sense of panic within Japan Inc and the government - the world's No. 3 economy doesn't have enough experts in artificial intelligence and it's time to do something about it.
- Activity in Japan's services sector expanded again in July, albeit at a fractionally slower pace than the previous month, a revised survey showed on Monday, indicating resilient domestic demand despite signs of a loss of momentum.
HSBC on Monday announced the surprise departure of Chief Executive Officer John Flint, saying the bank needed a change at the top to address "a challenging global environment", even as it posted a 16% rise in half-yearly profit.
South Korea on Monday announced plans to invest about 7.8 trillion won ($6.48 billion) in research and development to foster the local production of materials and equipment over the next seven years and cut reliance on Japanese imports.
Asian shares extended their losses on Monday as a sharp escalation in the Sino-U.S. trade war kept finiancial markets on edge, while the Japanese yen and bonds held near recent peaks as nervous investors stuck with perceived safe havens.
Asian shares slid to 6-1/2-month lows on Monday and the yuan plunged as a rapid escalation in the Sino-U.S. trade war drove nervous investors to safe-havens such as the yen, bonds and gold.