HONG KONG: The yuan held a firm tone on Monday after a holiday weekend, with markets cheered by signs of progress in U.S.-China trade negotiations though weak economic data at home and turmoil in oil markets curbed gains.
Ahead of high level trade talks next month, Beijing exempted duties on U.S. goods and Washington delayed a tariff increase in a rapid exchange of goodwill gestures last week, encouraging investors. But that optimism was somewhat dented after data on Monday showed China's August industrial production grew at its slowest in 17 years, flagging concerns over cooling economic growth.
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