China’s stock benchmark plunged more than 5% and other Asian markets fell Monday as Wall Street’s decline and doubts about Beijing’s economic management kept appetite for riskier assets such as stocks in check. KEEPING SCORE: The Shanghai Composite Index fell 5.3% to 3,016.70 and Hong Kong’s Hang Seng sank 2.6% to 19,927.67. Sydney’s S&P/ASX 200 […]
The addition of China’s yuan to the select basket of currencies used as a yardstick by the International Monetary Fund is a sign, experts say, that the yuan may one day become as recognizable as the dollar or euro. Adding the yuan alongside the dollar, euro, pound and yen is a symbolic victory for Beijing. […]