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Stock impact report

WRAPUP 4-China seeks to soothe markets as trade angst rattles stocks, yuan [Reuters (UK)]

CHINA MOBILE (CHL) 
US:NYSE Investor Relations: chinamobileltd.com/en/ir/reports.php
Company Research Source: Reuters
China seeks to soothe markets as trade angst rattles stocks, yuan | Reuters 6 Min Read SHANGHAI (Reuters) - China’s central bank moved to calm jittery financial markets on Tuesday after the yuan dropped through the psychologically significant 6.7 to the dollar mark, hitting its lowest in almost a year as anxieties over U.S. trade frictions deepened. Stocks also sank in morning trade as Beijing and Washington hurtled toward an end-of-week tariff deadline that has kept investors in China nervous, although they recouped their losses and ended the day in positive territory. Chinese currency CNY=CFXS and equity markets have been on edge ahead of July 6, when U.S. tariffs on $34 billion worth of Chinese goods kick in. Beijing has said it would retaliate with tariffs on U.S. products. The sustained fall in stocks and the yuan appeared to be rattling the authorities. In a statement posted on the website of the People’s Bank of China, Governor Yi Gang said the central bank was closely watching Show less Read more
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