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

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

Monday after the People's Bank of China set the fixing rate higher for the day.

     The yuan was last at 6.6157 against the U.S. unit after opening at 6.6190,

compared with the official closing price of 6.6175 on Friday.

     The PBOC set the yuan central parity rate at 6.6152, higher than Friday's

6.6218. Today's fixing was set stronger for the first time in two weeks after

being set weaker each of the previous 10 trading days.

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

was last at 2.7682%, lower than Friday's average of 2.8264%. The overnight repo

average was at 2.6694%, higher than Friday's 2.5879%.

     The yield on benchmark 10-year China government bonds was last at 3.7461%,

lower than the previous close of 3.7550%.

     Mainland stocks rose, with the agriculture and computer sectors leading

gains. The benchmark Shanghai Composite Index was last up 0.50% at 3,306.49.

Hong Kong's Hang Seng Index was 0.51% higher at 28,784.67.

--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$]