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China's yuan slips, looks set to snap five-week winning streak
SHANGHAI: China’s yuan eased against the dollar on Friday and looked set to snap a five-week winning streak after a softer official midpoint guidance, while a selloff in equities further weighed on market sentiment. Chinese stocks tumbled, mirroring a sharp overnight selloff on Wall Street after the tech-heavy Nasdaq posted its steepest one-day decline since the April 2025 “Liberation Day” rout. Meanwhile, market participants continued to digest the central bank’s decision this week to raise the amount of foreign currency reserves that financial institutions must hold, a move that discouraged...
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