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BEIJING (MNI) - The yuan fell slightly against the U.S. dollar Wednesday
morning even though the People's Bank of China set a stronger daily fixing.
The yuan was last at 6.6282 against the U.S. unit, compared with the
official closing price of 6.6272 on Tuesday.
The PBOC set the yuan central parity rate against the U.S. dollar at 6.6300
on Wednesday, much stronger than Tuesday's 6.6397. It was the largest daily rise
in the fixing since Oct. 11.
Money market rates were mixed Wednesday morning after the PBOC injected
CNY240 billion in liquidity via open-market operations. The seven-day repo
average was last at 2.8489% Wednesday, higher than Tuesday's average of 2.8344%.
The overnight repo average was at 2.7187%, much lower than Tuesday's 2.8460%.
The yield on benchmark 10-year China government bonds was last at 3.8750%,
down from the previous close of 3.8800%, according to Wind, a financial data
Stocks were up, led higher by the storage and electronics sectors. The
benchmark Shanghai Composite Index was last up 0.12% at 3,397.40. Hong Kong's
Hang Seng Index was 0.52% higher at 28,393.51.
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