China guided its yuan currency stronger for a second straight session on Monday, in a move that might calm concerns about how far Beijing would let the currency fall, but its stock markets tumbled again as doubts persisted over its policy intent.
Perceived mis-steps by China's authorities have stoked concerns in global markets that Beijing might lose its grip on economic policy, even as the country looks set to post its slowest growth in 25 years.
A 1.5 percent depreciation in the yuan since the start of 2016, following a 4.7 percent weakening in 2015, has raised alarm among some trade rivals that China was risking a "currency war" of competitive devaluations.
The yuan's steadier performance could help temper those fears, but it failed to stop investors selling Chinese shares.
Perceived mis-steps by China's authorities have stoked concerns in global markets that Beijing might lose its grip on economic policy, even as the country looks set to post its slowest growth in 25 years.
A 1.5 percent depreciation in the yuan since the start of 2016, following a 4.7 percent weakening in 2015, has raised alarm among some trade rivals that China was risking a "currency war" of competitive devaluations.
The yuan's steadier performance could help temper those fears, but it failed to stop investors selling Chinese shares.
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