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

     BEIJING (MNI) - The Chinese yuan climbed to 6.3178 against the U.S. dollar
on Thursday from yesterday's 6.3315 closing, following today's stronger fixing. 
     The People's Bank of China set the yuan central parity rate vs the U.S.
dollar at 6.3167 on Thursday, much stronger than Wednesday's 6.3396. It is the
biggest daily rise recorded since Feb 27.
     Interbank market rates dipped after PBOC's net drain of CNY150 billion.
  - 7-day repo average fell to 2.7122% from 2.8165% yesterday; 
  - Overnight repo average was 2.5241%, down from 2.5430% yesterday. 
     Yield on 10-year China Government Bond last traded 3.7475%, down from
3.7650% at close yesterday: Wind Information.
The Shanghai Composite Index declined 0.91% to 3251.10 at 11:00 am, while Hong
Kong's Hang Seng Index was last at 31,239.54, down 0.56%.
--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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