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CHINA MARKETS: Yuan Weaker; Rates Lower; Stocks Up

     BEIJING (MNI) - The yuan was weaker against the U.S. dollar on Thursday
after the People's Bank of China set the fixing rate weaker for the day.
     The yuan was last at 6.5884 against the U.S. unit, compared with the
official closing price of 6.5742 on Wednesday.
     The PBOC set the yuan central parity rate at 6.5867, 0.30% weaker than
Wednesday's 6.5670.
     Money market rates were lower Thursday morning. The seven-day repo average
was last at 2.8465%, compared with Wednesday's average of 2.9426%. The overnight
repo average was at 2.7936%, compared with Wednesday's 2.8133%.
     The PBOC injected CNY60 billion in liquidity via open-market operations
Thursday, and the liquidity condition remained unchanged as the same amount of
reverse repos matured on the same day.
     The yield on benchmark 10-year China government bonds was last at 3.5916%,
compared with the previous close of 3.5834%.
     Stocks rose, with the motorcycle and glass-making sectors leading gains.
The benchmark Shanghai Composite Index was last up 0.14% at 3,370.65. Hong
Kong's Hang Seng Index was 0.11% lower at 28,157.39.
--MNI Beijing Bureau; +86 10 85325998; email:
--MNI Beijing Bureau; +86 (10) 8532-5998; email:
[TOPICS: M$A$$$,M$Q$$$,M$$FI$,MN$FI$,MN$FX$]

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