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China slows yuan’s rise on asset bubble concerns, signalling new battle against excessive appreciation

Summary:
[unable to retrieve full-text content]A decision by China’s central bank at the weekend to curb a rally in the yuan’s exchange rate signals concern over a rush of hot money fuelling an asset bubble amid heightened price risks in the country’s rapidly growing property market, according to analysts.The move suggests the central bank was tweaking its policy stance on fears of excessive appreciation pressure on the yuan, following a sharp rise on Friday – the first working day following the “golden week” holiday – when it hit its…

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[unable to retrieve full-text content]
A decision by China’s central bank at the weekend to curb a rally in the yuan’s exchange rate signals concern over a rush of hot money fuelling an asset bubble amid heightened price risks in the country’s rapidly growing property market, according to analysts.The move suggests the central bank was tweaking its policy stance on fears of excessive appreciation pressure on the yuan, following a sharp rise on Friday – the first working day following the “golden week” holiday – when it hit its…

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