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CHINA RATES

China Repo Rates Decline: Wind

     BEIJING (MNI) - The yuan fell against the U.S. dollar on Monday morning
after the People's Bank of China set a weaker fixing for the day.
     The yuan was last at 6.6138 against the U.S. unit, weaker than the official
closing price of 6.6065 on Friday. The yuan opened at 6.6101 on Monday.
     The People's Bank of China set the yuan central parity rate against the
U.S. dollar weaker at 6.6105 on Monday, compared with 6.6067 set last Friday.
The PBOC has set the fixing weaker for six consecutive trading days.
     Money market rates fell. The seven-day repo average was last at 2.7307%,
lower than Friday's average of 2.8383%. The overnight repo average was at
2.5649%, also lower than Friday's 2.5807%.
     The yield on benchmark 10-year China government bonds was last at 3.9175%,
up from the previous close of 3.8875%, according to Wind, a financial data
provider. 
     Stocks fell, dragged down by the real estate and financial sectors in the
morning session, with the benchmark Shanghai Composite Index 0.22% lower at
3,310.20. However, Hong Kong's Hang Seng Index was 0.49% higher at 29,124.46.
--MNI Beijing Bureau; +86 (10) 8532 5998; email: marissa.wang@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$]