MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI: PBOC Sets Yuan Parity Higher At 7.1870 Mon; -1.39% Y/Y

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI CHINA MARKETS: Yuan Rises; Rates Up; SHCOMP Down 

     BEIJING (MNI) - The Chinese yuan rose to 6.2820 against the U.S. dollar
from Thursday's 6.2960 closing.  
PBOC set the yuan central parity rate vs the U.S. dollar at 6.2885 on Friday,
stronger than Thursday's 6.3045, marking the first time it broke 6.3000 since
August 2015.  
***COMMENT: The weak dollar and increased tolerance of the PBOC have supported
the surge of the yuan this year. Market sources told MNI that if the U.S dollar
index remains below 90, the yuan would further strengthen this year, and may
even touch the level of 6.1000.  
     Interbank market rates were up Friday, after PBOC drained net CNY90 billion
after refraining from conducting open-market operations. 
 - 7-day repo average last at 2.7344%, higher than 2.7250% yesterday 
 - Overnight repo average 2.5010%, up from 2.4752% yesterday.  
***COMMENT: Liquidity on the interbank market is still loose as the PBOC
conducted contingent reserves allowances. Today was the seventh trading day that
the central bank skipped conducting OMOs, draining CNY1150 billion in total.
     The yield on 10-year China government bonds last traded 3.9075%, up from
3.9000% at Thursday's close: Wind Information 
The Shanghai Composite Index was last 0.41% lower at 3,432.82 in the morning
session, while Hong Kong's Hang Seng Index rose 0.12% to 32,682.47.
--MNI Beijing Bureau; +86 (10) 8532 5998; email: marissa.wang@marketnews.com
--MNI Beijing Bureau; +86-10-8532-5998; email: beijing@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,M$$FI$,MN$FI$,MN$FX$]
China Market NewsPolicy NewsAPACChinaJapanAustraliaNew ZealandRegion
China Market NewsPolicy NewsAPACChinaJapanAustraliaNew ZealandRegion
To read the full story
Close
Why MNI
MNI is the leading provider
 of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.