33 C Business / devdiscourse
GLOBAL MARKETS-Yen surges on suspected intervention, Asia shares rise The yen jumped sharply against its peers on Monday after it slid past 160 per dollar earlier in the session, leading to speculation that Tokyo could have intervened in the currency market while the country was out for a holiday. The Japanese currency strengthened about 2% from the initial 159 per dollar level in a matter of a few minutes during Asia hours, as some traders said selling of dollars was seen onshore. The rapid mov
China passes tariff law as tensions with trading partners simmer China on Friday passed a law leaving its biggest trade partners in no doubt that it can hit back should they put tariffs on the exports of the world's No.2 economy as Washington and Brussels take aim at Beijing over excess industrial capacity. The Tariff Law, which was approved by China's top legislature after three rounds of deliberations going back to 2022, is the latest addition to Beijing's arsenal of trade defence instruments