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MNI CHINA MARKETS: Yuan Stronger; Rates Lower; SH Shares Down

     BEIJING (MNI) - The Chinese yuan climbed to 6.3147 against the U.S. dollar
on Wednesday from yesterday's 6.3294 closing, following today's stronger fixing.
     The People's Bank of China set the yuan central parity rate vs the U.S.
dollar at 6.3205 on Wednesday, stronger than Tuesday's 6.3218. The central bank
has set the fixing stronger for three straight days.
     Interbank market rates dropped after PBOC net injected CNY50 billion via
open-market operation. 
  - 7-day repo average was down to 2.7689%, compared with 2.9078% yesterday 
  - Overnight repo average fell to 2.6051% from 2.6445% yesterday. 
     Yield on 10-year China Government Bond last traded 3.8500%, up from 3.8400%
close yesterday: Wind Information.
The Shanghai Composite Index fell 0.46% to 3294.97 at the 11:00 am, while Hong
Kong's Hang Seng Index was last at 31,219.12, down 1.21%. 
--MNI Beijing Bureau; +86 (10) 8532-5998; email: iris.ouyang@marketnews.com
--MNI Beijing Bureau; +86-10-8532-5998; email: beijing@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,M$$FI$,MN$FI$,MN$FX$]

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