Asia Day Ahead: China property cooldown confirmed?
Bareksa • 17 Mar 2014
China tops the agenda in Asia on Tuesday, with investors watching housing prices, where the yuan is headed, and earnings from the nation's biggest aluminium producer. - (Reuters/Sareena Dayaram)
The Beijing-based company has already flagged a return to profit last year
Reuters - The Chinese central bank's decision to double the currency's trading band is seen as a step towards financial liberalization. But its adding to investors worries about their exposure to China in the near-term, since many had bet on the yuan's one-way appreciation. Markets are already jittery over a bunch of factors including China's first domestic corporate bond default, a worrying fall in exports and anemic manufacturing data. We also get final 2013 earnings from China's biggest aluminum producer, Chalco. The Beijing-based company has already flagged a return to profit last year thanks to cost cutting and asset sales.