Aussie Dollar Thumped by Devalued Yuan May Be a Mixed Blessing

The Aussie dollar’s plunge to a six-year low may not be all good news for the Reserve Bank. While the Australian central bank spent much of this year calling for a weaker currency to help revive the local economy, the Chinese move to devalue the yuan that sparked the most recent drop underscores the dangers posed by a slowdown in the South Pacific nation’s biggest trading partner. It also risks fueling beggar-thy-neighbor actions in other...

Gold Holds Rally as Yuan-Led Turmoil Reinvigorates Haven Demand

Gold held the biggest one-day gain in three months on concern the market turmoil spurred by China’s devaluation may weaken currencies and delay the onset of higher U.S. interest rates, increasing demand. Gold for immediate delivery was little changed at $1,124.50 an ounce at 7:52 a.m. in Singapore after rising 0.1 percent to $1,125.85, the highest since July 20, according to Bloomberg generic pricing. The metal rallied 1.4 percent on...

Asian Stocks Fall for a Third Day as Investors Weigh Yuan Impact

Asian stocks fell for a third day, with the regional benchmark index extending a seven-month low, as investors continued to weigh the impact of China’s shock currency devaluation. The MSCI Asia Pacific Index dropped 0.2 percent to 138.05 as of 9:02 a.m. in Tokyo. U.S. stocks reversed losses in Wednesday trading as the greenback’s retreat sparked a rebound in some commodities. Concern the yuan’s devaluation will sap inflation globally...

Japan Topix Index Falls for Third Day as Investors Watch Yuan

Japan’s Topix index fell for a third day as investors await further developments from China after two days of yuan devaluations triggered a sell-off in global stock markets. The Topix lost 0.2 percent to 1,661.79 as of 9:02 a.m. in Tokyo, after falling the most in a month on Wednesday. The Nikkei 225 Stock Average added 0.2 percent to 20,429.71. The yen strengthened for a third day against the yuan in offshore trading ahead of Thursday’s...

Indeks S&P 500 Hapus Kerugian Seiring Meredanya Kecemasan Atas China

Indeks S&P 500 hapus penurunan sebesar 1.5 persen seiring para investor kembali ke saham Amerika ditengah aksi sell-off saham global dipicu oleh kejutan kebijakan pemerintah China yang mendevaluasi mata uangnya. Emas reli sementara dolar terdepresiasi. Indeks S&P 500 berakhir mendatar pada pukul 16:00 di New York, rebound pasca merosot tajam dibawah moving average 200 hari dan sedikit menghapus keuntungan tahun ini. Rebound...