Following a record high on Wall Street, the Chinese Reminbi or better known as the 'Chinese Yuan' have plunged to its biggest drop in over three years which was mainly due to its contracting economy and talks of credit-tightening that have pressured china's stock market at the same time.
The market conditions would be ripe to also trigger real estate prices to move initially lower for now while the market tries to steady investors behavior moving forward this week's market activities. Meanwhile, the positive mood among US and European stock investors has somehow helped spill-over interest in Asia with Japan's Nikkei moving by a 1.4% and going beyond the 15,000 key price level, which in turn has provided the US Dollar / Yen to move better to the 102.56 USDJPY to this writing.
Capital Flight From USD
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