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CHINA MARKETS: Yuan Stronger; Rates Lower; Stocks Down 

     BEIJING (MNI) - The yuan was slightly stronger against the U.S. dollar on
Friday despite the People's Bank of China setting a weaker fixing rate for the
day.
     The yuan was last at 6.6086 against the U.S. unit after opening at 6.6084,
compared with the official closing price of 6.6088 on Thursday.
     The PBOC set the yuan central parity rate at 6.6113, weaker than Thursday's
6.6033. The PBOC has set the fixing weaker for three trading days out of five
this week.
     Money market rates were lower Friday morning. The seven-day repo average
was last at 2.8539%, down from Thursday's average of 2.8998%. The overnight repo
average was at 2.6715%, much lower than Thursday's 2.8114%.
     The yield on benchmark 10-year China government bonds was last at 3.8950%,
down from the previous close of 3.9100%.
     Stocks were down, led lower by the non-ferrous metal mining sector. The
benchmark Shanghai Composite Index was last down 0.47% at 3,276.99. Hong Kong's
Hang Seng Index was 0.89% lower at 28,906.94.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: iris.ouyang@marketnews.com
--MNI BEIJING Bureau; +1 202-371-2121; email: john.carter@mni-news.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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