The Chinese yuan appreciated the most in almost 10 months as speculation has been heightened on the possibility that US lawmakers will introduce protectionist legislation shortly after the US Treasury Department’s semiannual report tomorrow.

China’s trade surplus, as many had feared, ballooned by the tune of 73 percent on the annualized comparison in the month of May.

The third largest steel maker in China seems to be headlining news today following allegations that the company participated in price dumping in order to boost export in the US and gain significant market share.

Stock bidders ran rampant for the third day in Shanghai, taking key indexes higher in the region.

Since establishing a market bottom in the beginning of March, the Australian dollar has been ripping higher through every price level.

In a speech to the Heritage Foundation in Washington today, US Treasury Secretary Henry Paulson suggested that protectionism is growing in both nations of the US and China.

Once again, Shanghai stock markets provided for some entertainment in the overnight, declining as much as 7.5 percent in morning trade.

The bears continued to pummel the market on the session following an intermediate bounce back Thursday.

China's stocks took a turn for the worse in the overnight following the announcement that the government will increase the stamp tax by triple the rate.

Attending a dinner in Washington, Vice Premier Wu Yi warned that a "large" appreciation in the Chinese yuan would hurt the overall economy.