Bloomberg China lowered the cost it charges on short-term open-market operations for the first time since October 2015, a move aimed at shoring up confidence following a string of poor economic data. The People’s Bank of China (PBOC) cut the interest rate on its seven-day reverse repurchase agreements to 2.5% from 2.55%. The authorities also added 180 billion yuan ($26 ...

Bloomberg HSBC Holdings Plc pointed to routine regulatory requirements to ensure client money is used for stated purposes after a report that the firm is shutting a corporate account that helped fund protest-related activities in Hong Kong — a politically sensitive issue. The bank took action after finding the account was being used inconsistently with its original paperwork, the Hong ...

Bloomberg The Thai baht’s reign as Asia’s best-performing currency is coming under threat from an unlikely source: South Korea’s won. The baht has slumped into the bottom half of the regional rankings this quarter after heading the table for three consecutive three-month periods. The won meanwhile has shrugged off its chronic underperformance and rocketed to the top. The main reason ...