Wall Street hiring in Asia is coming under increasing scrutiny in the wake of a U.S. criminal investigation into whether JPMorgan Chase & Co. employed children of China’s elite in violation of anti-bribery laws.
Hon Hai Precision Industry Co. , the maker of Apple Inc. iPhones and iPads, tumbled to the lowest in almost two years in Taipei trading after an explosion at a factory in Chengdu, China, killed three workers.
Several blasts tore through a market in China’s turbulent Xinjiang region, killing 31 people and wounding 94, highlighting the government’s inability to end a spike in attacks it blames on ethnic Uighur separatists.
China’s central bank Governor Zhou Xiaochuan said deposit rates will be liberalized in one to two years, as the nation expands the role of markets even amid an economic slowdown and risks from a credit boom.
China’s broadest measure of new credit fell 19 percent from a year earlier and money supply grew at the slowest pace on record, underscoring risks of a deeper slowdown as the government tries to curb financial dangers.
Economists are forecasting that the People’s Bank of China is more likely to raise interest rates than cut them in the coming year, even as they slash growth projections for the world’s second-largest economy.