HONG KONG: Stocks and commodities fell in Asia yesterday after China’s surprise hike of banks’ reserve requirements sparked investor concerns that the move could slow China’s purchases of natural resources and other imported goods from Asia.
High-yielding currencies such as the Australian dollar weakened after the move by the People’s Bank of China late on Tuesday, which was the strongest step to date by the central bank towards reining in asset price inflation.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!