Asian stocks up despite lower yuan Asian shares were up despite China sending the value of its currency, the yuan lower for the third consecutive day.Thursday's yuan guidance rate was set 1% down, a smaller margin than the shock cuts earlier in the week.The midpoint is a guiding rate set by the government, from which trade can rise or fall 2% during the day.The Shanghai Composite rose by 0.8% to 3,916.68 points in early trading on hopes the lower yuan will help exports.
08-13-2015, 02:16 PM
Asian stocks up despite lower yuan
Asian shares were up despite China sending the value of its currency, the yuan lower for the third consecutive day.Thursday's yuan guidance rate was set 1% down, a smaller margin than the shock cuts earlier in the week.The midpoint is a guiding rate set by the government, from which trade can rise or fall 2% during the day.The Shanghai Composite rose by 0.8% to 3,916.68 points in early trading on hopes the lower yuan will help exports.
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