The Traderszone Network

Published in TZ Latest News 12 August, 2015 by The TZ Newswire Staff

Asian shares gain on hopes China slowing yuan descent

Asian shares extended early gains on Thursday, taking heart from a late recovery on Wall Street and from efforts by China’s central bank to slow the sharp descent of the yuan. Losses for the currency early Thursday were slight after the central bank set a midpoint that was again lower than the previous day’s, but not as weak as some feared. Sources told Reuters some powerful voices in the government are pushing for an even deeper devaluation to help China’s struggling exporters.