Mar
22
China Inc. `Bleeding’ From Yuan Devaluation Seeks Hedging Help
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KVB Kunlun Global Capital says hedging rose over 50% this year
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Many firms `are bleeding after the shock devaluation:’ Zheng
Chinese companies are seeking hedging services like never before after the yuan slid to a five-year low earlier this year.
Financial service provider KVB Kunlun Global Capital Ltd. forecasts its foreign-exchange hedging business will double this year, as fears of further yuan drops linger even after the currency rebounded in recent weeks. Hedging volumes at the firm jumped more than 50 percent in January-February from a year earlier, the sharpest two-month increase ever. Business also picked up at banks such as BNP Paribas SA, Hang Seng Bank Ltd. and Bank of China Hong Kong Ltd…
China Inc. `Bleeding’ From Yuan Devaluation Seeks Hedging Help
