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CHINA MARKETS: Yuan Strengthens; Rates Lower; Stocks Up 

     BEIJING (MNI) - The yuan rose against the U.S. dollar on Thursday morning
even though the People's Bank of China set a weaker fixing for the day.
     The yuan was last at 6.6277 against the U.S. unit, stronger than the
official closing price of 6.6343 on Wednesday. 
     The People's Bank of China set the yuan central parity rate against the
U.S. dollar at 6.6325 Thursday, weaker than Wednesday's 6.6277. The PBOC has set
the fixing weaker for two straight trading days.
     Money market rates were lower. The seven-day repo average was last at
2.7871%, lower than Wednesday's average of 2.8037%. The overnight repo average
was at 2.6357%, also lower than Wednesday's 2.5990%.
     The yield on benchmark 10-year China government bonds was last at 3.8925%,
up from the previous close of 3.8800%, according to Wind, a financial data
provider. 
     Stocks rose, led up by shares of nuclear power companies in the morning
session. The benchmark Shanghai Composite Index was 0.04% higher at 3,416.77.
Hong Kong's Hang Seng Index was 0.85% higher at 29,150.89.
--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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