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BEIJING (MNI) - The yuan rose against the U.S. dollar on Tuesday morning
after the People's Bank of China set a stronger fixing for the day.
The yuan was last at 6.6261 against the U.S. unit, stronger than the
official closing price of 6.6339 on Monday.
The People's Bank of China set the yuan central parity rate against the
U.S. dollar at 6.6216 Tuesday, stronger than Monday's 6.6247.
Money market rates were mixed after the PBOC drained a net CNY80 billion
via open-market operations for the day. The seven-day repo average was last at
2.6925%, lower than Monday's average of 2.7500%. The overnight repo average was
at 2.5278%, higher than Monday's 2.4600%.
The yield on benchmark 10-year China government bonds was last at 3.8700%,
up from the previous close of 3.8650%, according to Wind, a financial data
Stocks were lower, dragged down by shares of securities brokerage companies
in the morning session. The benchmark Shanghai Composite Index was 0.54% lower
at 3,407.36. Hong Kong's Hang Seng Index was 0.87% higher at 28,874.83.
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