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Free AccessCHINA 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$]
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.