China’s Huaxia Bank halted individual foreign exchange trading business amid currency volatility concerns

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A Chinese bank halted its foreign exchange trading business for individual investors, after a number of major Chinese lenders suspended or adjusted individual foreign exchange and precious metal trading businesses amid growing concerns over rising market volatility.

The Beijing-based bank said in a statement on Monday that it would stop offering personal foreign exchange sales and purchases from December 1 “in response to changing market conditions”.

On Tuesday, the bank pulled the original statement and said in a revised notice that the temporary changes were due to the bank implementing “optimisation” upgrades and the . . .

 

 

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