China stocks up after circuit breaker axed, yuan fixed higher

January 8, 2016 3:06 AM

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China stocks up after circuit breaker axed, yuan fixed higher

SHANGHAI China's major stock indexes opened higher on Friday after Beijing ditched a circuit breaker mechanism that halted trading twice this week after share prices tumbled and had been blamed for making market sell-offs worse.

The People's Bank of China also raised its guidance rate for the yuan for the first time in nine trading days, after it allowed the currency's biggest fall in five months on Thursday, pressuring regional currencies and sending global stock markets tumbling as investors feared it would trigger compet...

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