Chinese stocks tumble as trading resumes under a cloud

China pumps USD 109 billion into economy as trade war bites on growth

Asian markets fell on Monday, extending last week's sell-off as another strong United States jobs reading further fanned expectations the Federal Reserve will hike interest rates at a quicker pace.

At the World Economic Forum in Tianjin, China in September, an official from the country's securities regulator said there was nothing President Donald Trump's administration could do to make a significant dent in the Chinese economy.

China's stock markets tumbled on Monday, as investors were unnerved by the central bank's decision to slash the amount of cash that the country's lenders must hold as reserves, in a bid to help spur economic growth. This is the fourth time this year that the central bank has cut the reserve ratio. "Now, the Chinese economy is under even tougher pressure amid escalating trade friction", it said.

Celebrations for China National Day ended Friday and over the weekend the People's Bank of China once again cut the reserve requirement ratios levied on commercial banks.

"The export tax rebate is the most effective way to counter the negative impact of trade war on Chinese exporters to stabilize the job market".

Analysts say the yuan's decline has been driven mostly by China's slowing economic growth and the divergence between USA and Chinese interest rates.

Mental Health at work beyond Mental Health Awareness Week
The report was published ahead of a first global ministerial mental health summit in London this week. It's where we spend a majority of our time, build friendships and where we make our livelihoods.

Google reveals Home Hub, a smart speaker with a smart screen
After the death of Android tablets, Google has been slowly rebooting its tablet ambitions under the Chrome OS banner. On the Pixel 3 screen, you see an instant transcript of the caller's responses so you can decide whether to pick up.

You shall not patch! Microsoft has blocked the new Windows 10 update
If there are still files in the "Documents" folder then you're not affected by the issue, according to another tweet from Sarkar. Microsoft enabled new feedback functionality today that adds options to classify impact and severity of the reported issue.

The market's obliviousness toward the RRR cut - China's central bank said the move would inject a net 750 billion yuan ($109.2 billion) in cash into the banking system - highlights concerns that monetary easing alone would do little to heal battered confidence. Chinese dealers were playing catch-up with sharp losses last week, when Bloomberg reported that Beijing inserted microchips into equipment made in China for Amazon and Apple, and possibly for other companies and government agencies.

However, Stephen Innes, head of Asia-Pacific trading at OANDA, said: "It's not too much of a stretch to assume markets should expect more policy easing measures and increased infrastructure spending". In a speech, U.S. vice-president Mike Pence said on Thursday that China's onshore stock market fell by 25% in the first nine months of the year because Washington "has been standing strong against Beijing's trade practices".

The PBoC also reiterated that China's M2 money supply growth will be kept stable and the RRR cut will not fuel depreciation pressure on the yuan's exchange rate.

While non-performing loans saw a surge in the second quarters and defaults climbing, fixed-asset continues to grow at the slowest pace on record. The yuan market at 0414 GMT: ONSHORE SPOT: Item Current Previous Change PBOC midpoint 6.8571 6.844 -0.19% Spot yuan 6.8703 6.861 -0.14% Divergence from 0.19% midpoint* Spot change YTD -5.29% Spot change since 2005 20.47% revaluation Key indexes: Item Current Previous Change Thomson 92.76 92.87 -0.1 Reuters/HKEX CNH index Dollar index 94.143 94.133 0.0 *Divergence of the dollar/yuan exchange rate.

Chinese commission and state council have also substituted the term "deleveraging" with "structural deleveraging", a swap indicating less stringent on debt.

It is likely that further RRR cuts in addition to fiscal stimulus are in the pipeline to cushion the slowdown in the economy.

Related news:

Hot News

isis-killer-beheading-video-story-top Liveblog: Google’s Pixel 3 launch event at 11am ET Tuesday, October 9
Oct 10, 2018 - 17:43
Additionally, this model had 4GB of RAM, though Engadget predicts that there will be a variant with 6GB of RAM. Imagine you're at dinner with family or in a meeting at work and a call from an unknown caller comes in.

isis-killer-beheading-video-story-top Microsoft's Xcloud Is Bringing Xbox Games Anywhere You Are
Oct 10, 2018 - 17:04
A new customisable blade hosts the component parts of multiple Xbox One consoles, as well as its associated infrastructure. For more information on Project Xcloud , please read the post on the official blog of Microsoft .

isis-killer-beheading-video-story-top Daylight saving time is reportedly causing Apple Watch Series 4 reboots
Oct 10, 2018 - 16:48
However, out of 24 hours, the particular watch face is reportedly not registering an hour or so worth of activities. Europe will move out of Daylight Saving Time by the end of this month, while in the U.S., DST ends on November 4.

isis-killer-beheading-video-story-top Nobel Prize for Economics: winners William Nordhaus and Paul Romer
Oct 10, 2018 - 15:31
Paul Michael Romer, who is one of this year's recipient of the Nobel Prize for Economics is a fan of the Aadhaar system. Per Stromberg, head of the Nobel economics prize committee, said "it's about the long-run future of the world economy".

Taylor Swift sets new American Music Award record, urges people to vote
Oct 10, 2018 - 14:53
It takes her AMA tally to 23, beating Whitney Houston's 19 to make her the most successful female artist at the awards. Migos were acknowledged as the favourite duo in the Pop/Rock category, while Mendes won the Adult Contemporary Artist.

isis-killer-beheading-video-story-top State and hospitals holding vaccination events as flu season starts
Oct 10, 2018 - 13:59
Getting back into the flu shot specifically, there's already plenty of skepticism surrounding this one form of vaccination alone. To protect adults and children alike from the risk of flu and its complications, flu vaccinations are available through the NHS.

isis-killer-beheading-video-story-top French rescuers search for bodies in debris of Indonesian quake disaster
Oct 10, 2018 - 13:58
People living in the camp said two residents died in collapsing houses in the village. A Japanese Self Defense Force plane landed at Palu's airport Saturday morning.

isis-killer-beheading-video-story-top Users, shutting down social network
Oct 10, 2018 - 13:30
The company cited the reason of the closure as the fact that Google+ had failed to achieve "broad consumer or developer adoption". The report alleges that the bug became active in 2015, only being discovered by Google and shut down in March of this year.

isis-killer-beheading-video-story-top Suspect in Bulgarian journalist slaying arrested in Germany
Oct 10, 2018 - 11:22
Bivol.bg owner Asen Yordanov told AFP that "Viktoria's death, the brutal manner in which she was killed, is an execution". The journalists, Attila Biro and Dimitar Stoyanov, had been detained in September for their work.

isis-killer-beheading-video-story-top Dana White -- UFC could strip Khabib Nurmagomedov of title
Oct 10, 2018 - 10:45
He also held that Khabib's performance "legitimized every criticism anyone has ever had" in regards to McGregor's career. The post-fight meleé has gained so numerous headlines but the fourth round finish will rankle McGregor for a while yet.

Official Rock & Roll Hall of Fame Nominees
Oct 10, 2018 - 10:41
Six of the nominees are on the ballot for the first time, including Def Leppard , Prine, Roxy Music , Devo , Nicks and Rundgren . Both Kraftwerk and LL Cool J have made it to nominee status the most times in previous years with five appearances each.

isis-killer-beheading-video-story-top Aaron Ramsey: Ian Wright backs Arsenal contract 'stance' on Wales misfielder
Oct 10, 2018 - 10:04
Wright wrote in his column in The Sun: " Arsenal fans have not had too much to thank Jose Mourinho for over the years. He brings goals to the midfield - he takes the pressure off the strikers.

isis-killer-beheading-video-story-top Caroline Wozniacki wins in Beijing
Oct 10, 2018 - 09:33
The second seed Dane did not take much time in the Chinese capital, Beijing to clinch her 30th career crown. In the set, she steamrolled to take a double-break 4-1 lead and held to it until the score was 4-3.

Ousted Guardians of the Galaxy director switches camps, tied to new DC Comics film
Oct 10, 2018 - 09:23
It is possible that it could be a continuation of the franchise with a new cast of incarcerated supervillains. The Drax the Destroyer actor tweeted shortly after Deadline covered the news, "Where do I sign up!"

isis-killer-beheading-video-story-top `Star Trek: Discovery season 2` reveals new Spock
Oct 10, 2018 - 08:28
Not wanting to avoid the topic, they simply encouraged everyone to go out and vote during the November mid-term elections. Martin-Green was particularly excited because her husband, Kenric Green, is joining the cast in an unknown role.