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Recent Gains Considered Corrective


Trend Needle Points North Despite Recent Pullback


Trend Needle Points North Despite Recent Pullback


Late SOFR/Treasury Option Roundup

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MNI CHINA MARKETS: Yuan Weaker; Rates Diverged; SH Shares Down

MNI (Singapore)
     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
  - 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:
--MNI Beijing Bureau; +86-10-8532-5998; email:
[TOPICS: M$A$$$,M$Q$$$,M$$FI$,MN$FI$,MN$FX$]

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