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China's yuan drops below key level on U.S. tariff threats, stocks recover

Reuters  |  SHANGHAI 

SHANGHAI (Reuters) - China's yuan weakened past a key level against the dollar on Thursday, following the central bank's weakest fixing in nearly a year after Washington's fresh tariff threats knocked the currency lower, although stocks clawed back heavy losses.The Shanghai Composite index was up 1.9 percent at midday after sliding 1.8 percent on Wednesday. The blue-chip CSI300 index rose 2.1 percent following a 1.7 percent drop the day before.Shares in Hong Kong were 0.6 percent higher."The dominating selling pressure is exhausting now, and we believe the stock market is bottoming out thanks ...

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First Published: Thu, July 12 2018. 10:06 IST