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Free AccessMNI CHINA MARKETS: Yuan Weaker; Rates Diverged; SH Shares Down
BEIJING (MNI) - The Chinese yuan rose to 6.3431 against the U.S. dollar on
Monday from Friday's 6.3472 closing, despite today's weaker fixing.
PBOC set the yuan central parity rate vs the U.S. dollar at 6.3431 today,
weaker than last Friday's 6.3334. Today's fixing is the lowest since Feb 23.
Interbank market rates diverged after PBOC drained CNY100 billion into the
market.
- 7-day repo average fell to 2.7637% from 2.9150% Friday
- Overnight repo average is down at 2.6130% from 2.7646% Friday.
Yield on 10-year China Government Bond last traded 3.8551%, up from 3.8373%
close Friday: Wind Information.
Stocks retreated, sending the Shanghai Composite Index down 0.39% to 3241.96 at
11:15 am, while Hong Kong's Hang Seng Index was last at 30,067.53, down 1.69%.
--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: beijing@mni-news.com
--MNI Beijing Bureau; +86-10-8532-5998; email: beijing@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,M$$FI$,MN$FI$,MN$FX$]
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.