People globally underestimate the downside risk to the Chinese economy.The economy is not just slowing but there’s a lot of financial risks here. The chance of a crisis is rising and very real.
The Ukrainian Equities Index (UX) slid 2.3 percent, extending a three-day slump to 8.3 percent, and the hryvnia slid 2.2 percent.
The yen climbed to 139.79 per euro after depreciating to 141.03 on Feb. 18, the weakest level since Jan. 29. It rallied to 102.02 per dollar. The euro dropped 0.2 percent to $1.3706.
Currencies of nations that rely on trade with China declined. The Australian dollar dropped for a fourth day, sliding 0.2 percent to 89.79 U.S. cents, while the won dropped 0.6 percent to close at 1,072.30 per dollar in Seoul.