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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
The Bank for International Settlements has withdrawn from a digital cross-border payments project after Russian President Vladimir Putin highlighted its potential to bypass sanctions and challenge the dollar's dominance. The remaining countries involved—China, Thailand, Saudi Arabia, Hong Kong, and the UAE—will continue to develop the initiative independently, with China providing the essential technology.
China's recent stimulus measures are poised to influence the third-quarter earnings of major banks, including Industrial & Commercial Bank of China and China Construction Bank. Focus will be on their long-term outlook following recent cuts to benchmark lending and deposit rates, as net interest margins have hit record lows, impacting profitability.
Asian stocks are experiencing fluctuations as investors reassess expectations for rapid US Federal Reserve policy easing amid a strong US economy and rising fiscal deficit concerns post-presidential election. In China, a recent stock rally is gaining attention, with a government-linked think tank advocating for the issuance of 2 trillion yuan ($281 billion) in special bonds to establish a market stabilization fund.
China Construction Bank Corporation
Companies
United States Dollar
Saudi Arabian Monetary Authority
Bank for International Settlements
China Construction Bank Corporation
Hongkong AND Shanghai Banking Corporation Ltd. -THE
HKG
ARE
CHN
THA
SAU
Vladimir Putin
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11:30 31.10.2024
Bank of China Limited
Agricultural Bank of China Ltd.
China Construction Bank Corporation
Industrial & Commercial Bank of China Ltd.
CHN
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04:05 25.10.2024
03:36 23.10.2024
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