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

     BEIJING (MNI) - The Chinese yuan climbed to 6.3459 against the U.S. dollar
on Friday from yesterday's 6.3532 closing, following today's stronger fixing.  
     The People's Bank of China set the yuan central parity rate at 6.3521
Friday, much stronger than Thursday's 6.3732. The central bank set the fixing
stronger for the first time in five trading days and today's rise has wiped off
one third of the recent cumulative drop.
     Interbank market rates decreased after PBOC net drained CNY40 billion via
open market operation.
  - 7-day repo average dropped to 2.6862% from 2.8080% yesterday 
  - Overnight repo average was last at 2.5510%, down from 2.6279% yesterday. 
     The yield on the 10-year China Government Bond last traded 3.6450%, down
from the 3.6500% close yesterday: Wind Information.
The Shanghai Composite Index declined 0.12% to 3097.02 at the 11:30 midday
market break, while the Hang Seng Index last slid 0.37% to 30,199.88.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: iris.ouyang@marketnews.com
--MNI Singapore Bureau; +65 8233 2326; email: Asia-Editor@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,M$$FI$,MN$FI$,MN$FX$]

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