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CHINA MARKETS: Yuan Stronger; Rates Mixed; Stocks Down 

     BEIJING (MNI) - The yuan rose against the U.S. dollar Thursday morning
after the People's Bank of China set a much stronger daily fixing and the dollar
fell. 
     The yuan was last at 6.7314 against the U.S. unit, jumping 0.34% compared
with the official closing price of 6.7545 on Wednesday. The yuan rose as high as
6.7313 in interday trading, the strongest since Oct. 17, 2016, when it reached
6.7312. 
     The People's Bank of China set the yuan central parity rate against the
U.S. dollar at 6.7307 Thursday, much stronger than Wednesday's 6.7529. It was
the strongest fixing since Oct. 18, 2016, when it was 6.7303. Today's fixing
also marked the biggest daily rise in a month.
     The U.S dollar index fell 0.12% to 93.34 shortly before lunchtime in
Beijing. 
     Money market rates were mixed in the morning session on Thursday as
liquidity of short-term capital was still tight. The seven-day repo average was
last at 2.8145%, lower than Wednesday's average of 2.8405%. The overnight repo
average was at 2.7790%, higher than Wednesday's 2.7554%.
     The yield on benchmark 10-year China government bonds was last at 3.7767%,
down from the previous close of 3.7689%, according to Wind, a financial data
provider. 
     Stocks were down, led lower by the insurance and non-ferrous metal sectors.
The benchmark Shanghai Composite Index was last down 0.81% at 3,221.24. Hong
Kong's Hang Seng Index was 0.34% higher at 27,031.33.
--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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