China's ambassador to Washington, Xie Feng, noted late Wednesday China will respond if the US were to impose more curbs on the country's chip sector. "The Chinese government cannot simply sit idly by. There's a Chinese saying that we will not make provocations, but we will not flinch from provocations," Feng said, as reported by Reuters. The Shanghai Composite Index fell nearly 1% on Thursday and the Nasdaq Futures were last seen losing nearly 1% on the day.
In the Asian session on Thursday, the People's Bank of China announced that it left the one-year and five-year Loan Prime Rates unchanged at 3.55% and 4.20%, respectively. Meanwhile, the data from Australia revealed that the Unemployment Rate held steady at 3.5% while Employment Change arrived at +32,600, higher than the market expectation of 15,000. In response,closed in negative territory on Wednesday but managed to rise above 1.1200 early Thursday.
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