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MNI: China FX Reserves Rose In June On Value Effects: PBOC 

--China June FX Reserves Rose $1.51 Billion To $3.112 Trillion
     BEIJING (MNI) - China's foreign exchange reserves increased modestly in
June, the first rise after two consecutive monthly falls, as prices of the U.S.
treasuries rose, according to the People's Bank of China and State
Administration of Forex Reserves (SAFE). 
     FX reserves rose by USD1.51 billion to USD3.112 trillion as of June 30,
according to data released Monday by the PBOC, compared with a decline of
USD14.23 billion in May. 
     "The forex market was stable in June and international payment remained
balanced," SAFE, a division of PBOC, stated on its website. 
     Non-dollar currencies depreciated against the dollar, as the dollar index
rose 0.5% in June, while asset prices were changed, together contributing to a
rise in the value of China's FX reserve in U.S. dollar terms, it said.
     SAFE said FX reserves should remain stable, supported by a good momentum of
economic growth. However, it warned that the reserves would be volatile due to
uncertain external effects, including U.S. trade protectionism, the Federal
Reserve's rate hikes and book shrinkage, and tight liquidity in the global
market. 
--MNI Beijing Bureau; +86 (10) 8532 5998; email: marissa.wang@marketnews.com
--MNI Beijing Bureau; +86-10-8532-5998; email: beijing@marketnews.com
[TOPICS: MAQDS$,M$A$$$,M$Q$$$,MT$$$$]
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