Alibaba, JD, Baidu Shares Slide as Fresh Data Fuels Concerns Over China’s Economic Recovery
Shares of major Chinese technology companies came under pressure on Monday after new economic data pointed to a further slowdown in China’s recovery. Alibaba Group, JD.com, and Baidu all saw their U.S.-listed shares retreat as investors digested weaker-than-expected retail sales figures, raising fresh concerns about consumer demand in the world’s second-largest economy. According to data […]
China’s Yuan Hits 14-Month High as US Dollar Weakens
On Monday, China’s yuan soared to a 14-month high against the US dollar, boosted by broad weakness in the greenback and increased seasonal corporate demand. Despite concerns about China’s economic slowdown and a weaker-than-expected official currency fix, the yuan continued to rise, hitting its strongest point since October 2024. The onshore yuan strengthened by 0.05%, […]