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Morning briefing: Malaysia adds Chinese yuan-denominated bonds to reserves

yuanbank.jpg

An employee reaches for a bundle of 100 yuan banknotes at a branch of Bank of China in Hefei, Anhui province.

(Photo Credit: Reuters)

1. Malaysia's central bank purchased yuan-denominated bonds to add to its reserve holdings, a major boost for Beijing's efforts to internationalize its currency.

2. Greece's bank stress tests have been postponed by the International Monetary Fund, European Commission and European Central Bank to allow the country to raise more money in capital markets.

3. Chinese automaker SAIC said it is paying close attention to General Motors's upcoming stock sale after the U.S. Treasury Department said investors would be sought across "multiple geographies." SAIC, a state-owned company, is GM's joint venture partner in China. There has been speculation that it will buy a stake in the Detroit automaker.

By Ariana Eunjung Cha  | September 20, 2010; 6:05 AM ET
Categories:  *Morning briefing  
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