The Indian rupee struggled for direction on Wednesday, as comfort from a broadly weaker dollar and modest inflows proved transient in the face of strong demand for the greenback from state-run banks and weakness in the Chinese yuan.

Analysts at the financial giant Goldman Sachs reportedly think the onshore Chinese yuan (CNY) will rise against the dollar over the next 12 months.

With both China and the US reporting ‘progress’ in their first trade talks, the offshore yuan had strengthened to 7.22 per US dollar by Monday.

The Indian rupee is expected to appreciate past the 85 mark against the U.S. dollar at the open on Tuesday, supported by the India-Pakistan truce and a rally in the Chinese yuan on the back of the U.S.

The Chinese yuan was weaker along with most other Asian currencies, including the Singapore dollar, after the PBOC said it will ease policy.

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BEIJING] Chinese e-commerce platforms are offering discounts of up to 2,530 yuan (S$457) on Apple’s latest iPhone 16 models, an effort to spur sales as first-quarter shipments by the US tech giant fell further in its second-largest market.

China's innovation and technology hub, Shenzhen in South China's Guangdong Province, has established a 5 billion yuan ($694 million) investment fund for the semiconductor and integrated circuit industry,

China scaled back its efforts to buoy the yuan, with one degree of daily support missing analyst estimates for the first time this year, amid a rebound on signs of easing trade tensions.