China’s largest state banks intervened in the foreign exchange market on Monday to prevent the yuan from falling. writes about this Reuters.
On January 22, credit institutions actively sold US dollars in the domestic foreign exchange market and also limited lending in order to reduce the liquidity of offshore yuan due to the sale of Chinese stocks.
Chinese stocks in Hong Kong price dropped The level of the 2000s has been reached. After Monday’s trading, the Hang Seng China Enterprises Index fell 2.4% to 5,001.95 points, and the CSI 300 index fell 1.56% to 3218.9 points. The share price of technology giant Tencent Holdings fell to HK$262.2 (-3.32%).
The Shanghai Composite Index closed at 2,756.34, down 2.68%, marking its biggest intraday decline since April 2022.
Previously reportedThe Nikkei Japanese stock index rose to its February 1990 record.