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

     BEIJING (MNI) - The Chinese yuan fell to 6.3329 against the U.S. dollar on
Friday from 6.3212 closing on Thursday. The People's Bank of China set the yuan
central parity rate at 6.3272, weaker from Thursday's 6.3167. The fixing was set
weaker from the previous day twice this week.
     Interbank market rates diverged after the PBOC chose not to conduct
open-market operation, which resulted in a net drain of CNY90 billion.
 - 7-day repo average slumped to 2.7024% from 2.7603%;  
 - Overnight repo average rose to 2.5337% from 2.5134%.  
     Yield on 10-year China Government Bond last traded 3.7000%, down from
3.7450% close yesterday: Wind Information.
The Shanghai Composite Index declined 2.91% to 3168.58 at the 11:00 am, while
Hang Seng Index was last at 30,208.23, down 2.78%.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: iris.ouyang@marketnews.com
--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com
[TOPICS: M$A$$$,M$Q$$$,M$$FI$,MN$FI$,MN$FX$]

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