MNI CHINA MARKETS: Yuan Stronger; Rates Mixed; Stocks Down

     BEIJING (MNI) - The yuan was stronger against the U.S. dollar on Wednesday

even though the People's Bank of China set a weaker fixing rate for the day.

     The yuan was last at 6.6200 against the U.S. unit after opening at 6.6245,

compared with the official closing price of 6.6212 on Tuesday.

     The PBOC set the yuan central parity rate at 6.6251, weaker than Tuesday's

6.6162.

     Money market rates were mixed Wednesday morning. The seven-day repo average

was last at 2.8209%, down from Tuesday's average of 2.9108%. The overnight repo

average was at 2.7866%, higher than Tuesday's 2.7510%.

     The yield on benchmark 10-year China government bonds was last at 3.9287%,

down from the previous close of 3.9300%.

     Mainland stocks were down slightly, led lower by property sector stocks.

The benchmark Shanghai Composite Index was last down 0.02% at 3,280.12. However,

Hong Kong's Hang Seng Index was 0.36% higher at 28,896.46.

--MNI Beijing Bureau; +86 (10) 8532-5998; email: iris.ouyang@marketnews.com

--MNI BEIJING Bureau; +1 202-371-2121; email: john.carter@mni-news.com

[TOPICS: M$A$$$,M$Q$$$,M$$FI$,MN$FI$,MN$FX$]