As it looks like, Asian markets have mostly slipped at the end of a tough week in relative calm after China unveiled a series of steps to shore up its economy, reassuring the investors. Nonetheless, there are fears of a hike of US interest rates.
Meanwhile, higher yielding or riskier currencies such as the Malaysian ringgit and South Korean won, gained a more upbeat outlook. According to analysts, world markets seemed to be settling after a rollercoaster ride since China devalued its yuan currency last month.
A set of capital controls created to prevent a flight of cash were implemented last week, while analysts said a rise in the offshore yuan suggested by the central bank to intervene and prop it up. China is to release data on sales and investment. The authorities have also unveiled a series of measures in order to avoid huge swings in China’s stock markets, which have seen trillions of dollars wiped off valuations in Shanghai since it hit a peak in mid-June. Among the measures is a ‘circuit breaker’ where shares are being traded after rising or falling by a certain amount.