China
IFC sees Panda bond market exceeding $50B by 2020
The Panda bond market in China is expected to surpass $50-billion mark in next five years. International Finance Corporation (IFC) is planning to sell bonds in Yuan-denominated from this year onwards.
Will China impose a punitive tax on forex trades?
At a time when, Chinese currency Yuan seems to be stabilizing in the foreign exchange (forex) market, the indications from the government about imposing a Tobin tax, a punitive levy, on forex transactions aimed at reducing trading in currency. After the unexpected devaluation of Yuan by 1.9 percent on 11 August, the Chinese currency fell further and recently started coming back into stabilization mode.At a time when, Chinese currency Yuan seems to be stabilizing in the foreign exchange (forex) market, the indications from the government about imposing a Tobin tax, a punitive levy, on forex transactions aimed at reducing trading in currency. After the unexpected devaluation of Yuan by 1.9 percent on 11 August, the Chinese currency fell further and recently started coming back into stabilization mode.
Lack of clarity over US data put pressure on Asian stocks
The lack of clarity about the US data and timing of interest rate hike have put further pressure on Asian stock markets. Several Asian stocks slipped into pressure on Friday trading ahead of the US data jobs report. Japan's Nikkei fell 1.7 percent for the week. The long holiday stretch for Chinese markets also resulted in sluggishness in the Asian market.
Apple launches Apple Music to Chinese consumers
Apple finally announced the launching of Apple Music to Chinese customers. The app comes with a three-month trial. After that, 10 Chinese yuan per month will be charged. iTunes, iBooks, and Movies were also made available.