Free Trial

MNI CHINA MARKETS: Yuan Stronger; Rates Diverge; SH Shares Up

     BEIJING (MNI) - The Chinese yuan strengthened slightly to 6.3648 against
the U.S. dollar on Tuesday from Monday's 6.3649 closing, following today's
weaker fixing.  
     The People's Bank of China set the yuan central parity rate at 6.3674
Tuesday, weaker than Monday's 6.3584.
     Interbank market rates diverged after PBOC skipped open market operations,
which resulted in no change in liquidity condition.
  - 7-day repo average fell to 2.6648% from 2.6938% Monday; 
  - Overnight repo average rose to 2.5592% from 2.5509% Monday. 
     Yield on 10-year China Government Bond last traded 3.6700%, up from 3.6500%
close on Tuesday: Wind Information.
The Shanghai Composite Index was up 0.57% to 3154.43 at 11:00 am, while Hong
Kong's Hang Seng Index was last up 1.21% at 30,358.04. 
--MNI Beijing Bureau; +86 10 85325998; email: he.wei@marketnews.com
--MNI Beijing Bureau; +86-10-8532-5998; email: beijing@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,M$$FI$,MN$FI$,MN$FX$]

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.