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CHINA MARKETS: Yuan Weaker; Rates Fall; Stocks Down 

     BEIJING (MNI) - The yuan fell against the U.S. dollar Friday morning
despite a stronger fixing rate set by the People's Bank of China.
     The yuan was last at 6.6736 against the U.S. unit, compared with the
official closing price of 6.6610 on Thursday. 
     The PBOC set the yuan central parity rate against the U.S. dollar at 6.6642
on Friday, stronger than Thursday's 6.6770. Friday's fixing was the strongest
since 6.6513 on Sept. 22.
     Money market rates fell Friday morning after the PBOC injected CNY130
billion in liquidity via open-market operations, which balanced out the same
amount that matured on the day. The seven-day repo average was last at 2.7717%
on Friday, lower than Thursday's average of 2.9031%. The overnight repo average
was at 2.7556%, lower than Thursday's 2.7885%.
     The yield on benchmark 10-year China government bonds was last at 3.6212%,
down from the previous close of 3.6357%, according to Wind, a financial data
provider. 
     Stocks were down, led lower by the railway freight and mining sectors. The
benchmark Shanghai Composite Index was last down 1.02% at 3,228.52. Hong Kong's
Hang Seng Index was 1.60% lower at 27,003.59.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: iris.ouyang@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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