Jacob Gu

China’s first sale of ultra-long special sovereign bonds this year drew solid demand, with yields coming in below prevailing market levels.

The Chinese yuan is more than 20% undervalued against the US dollar, according to Goldman Sachs Group Inc., which expects the currency to keep strengthening over the coming year.

Morgan Stanley sees room for the yuan to climb further, but disagrees with more bullish views that the currency is significantly undervalued.

The yuan recorded its longest stretch of gains against the dollar in nearly a decade in offshore trading, following positive signs from the first day of a key US-China summit.

(Bloomberg) -- The yuan recorded its longest stretch of gains against the dollar in nearly a decade in offshore trading, following positive signs from the first day of a key US-China summit.

China’s yuan has strengthened to its highest level in nearly four years versus a basket of trading-partner currencies, underscoring the appeal of Chinese assets as a regional haven during the Iran conflict.

Taiwan’s central bank is extending its reach ever deeper into foreign-exchange markets, seeking to ensure currency stability as the artificial intelligence boom intensifies a divide between the island’s tech sector and the rest of the economy.

Taiwan’s yields have scope to climb further as tight cash conditions in the local market and concerns over rising inflation dampen demand for the island’s debt, according to analysts.

The Hong Kong dollar fell to its weakest level against the US dollar in about 10 months, as a stronger greenback and expectations for further Federal Reserve rate hikes pressured Asian currencies.

The Taiwan dollar, which is on track for its first quarterly gain in a year, may face renewed pressure as the US currency strengthens and local companies boost dividend payouts to a record.