MNI China Daily Summary: Monday, July 1

MNI BRIEF: PBOC To Borrow CGBs In Response To Market Situation

MNI BRIEF: Caixin June Manufacturing PMI Hits Three-year High

MNI: PBOC Net Drains CNY48 Bln Via OMO Mon; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

Services Inflation Potentially A Touch Softer; Food Prices Jump

Nominal Wage Growth Moderates In April, But Real Wages Remain Positive

MNI Projects 2.2-2.3% Y/Y National CPI, Core CPI Around 2.9%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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CHINA MARKETS: Yuan Weaker; Rates Lower; Stocks Down 

     BEIJING (MNI) - The yuan was weaker against the U.S. dollar on Friday after
the People's Bank of China set the fixing rate slightly higher for the day.
     The yuan was last at 6.6777 against the U.S. unit after opening at 6.6750,
compared with the official closing price of 6.6731 on Thursday.
     The PBOC set the yuan central parity rate at 6.6744, 0.05% weaker than
Thursday's 6.6709.
     Money market rates were lower Friday morning. The seven-day repo average
was last at 2.7426%, compared with Thursday's average of 2.8879%. The overnight
repo average was at 2.7964%, compared with Thursday's 2.8650%.
     The PBOC injected CNY20 billion in liquidity via its open-market operations
Friday.
     The yield on benchmark 10-year China government bonds was last at 3.5650%,
compared with the previous close of 3.5820%.
     Stocks fell, with the non-ferrous metal, public utilities and paper
manufacturing sectors leading losses. The benchmark Shanghai Composite Index was
last down 0.35% at 3,257.03. Hong Kong's Hang Seng Index was 1.10% lower at
27,044.68.
--MNI Beijing Bureau; +86 10 85325998; email: he.wei@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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