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CHINA MARKETS: Yuan Stronger; Rates Lower; Stocks Up 

     BEIJING (MNI) - The yuan rose against the U.S. dollar Friday morning after
the PBOC set a stronger fixing for the day.
     The yuan was last at 6.5845 against the U.S. unit, 0.19% stronger than the
official closing price of 6.5969 on Thursday. 
     The People's Bank of China set the yuan central parity rate against the
U.S. dollar at 6.5909 Friday, stronger than Thursday's 6.6010. The PBOC has set
the fixing stronger for all five trading days this week, and today's fixing
marks the highest since June 24 last year when it was 6.5776. 
     Money market rates were lower on Friday even though the PBOC drained a net
CNY50 billion via open-market operations for the day.
     The seven-day repo average was last at 2.8423%, lower than Thursday's
average of 2.9303%. The overnight repo average was at 2.7915%, also lower than
Thursday's 2.8887%.
     The yield on benchmark 10-year China government bonds was last at 3.6806%,
up from the previous close of 3.6003%, according to Wind, a financial data
provider. 
     Stocks were up, led higher by the coal power sector. The benchmark Shanghai
Composite Index was 0.36% higher at 3,373.03. Hong Kong's Hang Seng Index
increased 0.32% to 28,062.34.
--MNI Beijing Bureau; +86 (10) 8532 5998; email: marissa.wang@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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