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CHINA MARKETS: Yuan Rises; Rates Mixed; Stocks Down 

     BEIJING (MNI) - The yuan rose against the U.S. dollar on Thursday morning
after the People's Bank of China set a stronger fixing for the day.
     The yuan was last at 6.5949 against the U.S. unit, stronger than the
official closing price of 6.6161 on Wednesday. 
     The People's Bank of China set the yuan central parity rate against the
U.S. dollar at 6.6196 on Thursday, much stronger than Wednesday's 6.6300. It was
the third straight trading day of stronger fixings. 
     Money market rates were mixed after the PBOC drained a net CNY140 billion,
after skipping open-market operations for the day. 
     The seven-day repo average was last at 2.7978%, lower than Wednesday's
average of 2.9402%. The overnight repo average was at 2.5677%, higher than
Wednesday's 2.5000%.
     The yield on benchmark 10-year China government bonds was last at 3.8575%,
down from the previous close of 3.8650%, according to Wind, a financial data
provider. 
     Stocks were lower, dragged down by shares of securities brokerage
companies. The benchmark Shanghai Composite Index was 0.46% lower at 3,380.31.
Hong Kong's Hang Seng Index was 0.01% lower at 28,592.47.
--MNI Beijing Bureau; +86 (10) 8532 5998; email: marissa.wang@marketnews.com
--MNI Beijing Bureau; +86 (10) 8532-5998; email: vince.morkri@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,M$$FI$,MN$FI$,MN$FX$]
China Market NewsPolicy NewsAPACChinaJapanAustraliaNew ZealandRegion
China Market NewsPolicy NewsAPACChinaJapanAustraliaNew ZealandRegion
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