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Coming up in the Asia-Pac Session on Monday:


Coming up in the Asia-Pac Session on Monday:


(H2) Stabilising


Bias Still Points Lower


Fading Onto Recent Gains

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     BEIJING (MNI) - The yuan fell against the U.S. dollar Tuesday morning after
the People's Bank of China set a weaker daily fixing. 
     The yuan was last at 6.6086 against the U.S. unit, compared with the
official closing price of 6.5979 on Monday. 
     The PBOC set the yuan central parity rate against the U.S. dollar at 6.5944
on Tuesday, weaker than Monday's 6.5874. 
     Money market rates fell Tuesday morning after the PBOC injected CNY250
billion in liquidity via open-market operations, balancing out the same amount
of maturing reverse repos.
     The seven-day repo average was last at 2.8351% Tuesday, lower than Monday's
average of 2.8748%. The overnight repo average was at 2.7735%, lower than
Monday's 2.8087%. 
     The yield on benchmark 10-year China government bonds was last at 3.9600%,
down from the previous close of 3.9700%, according to Wind, a financial data
     Stocks were down, led lower by the insurance and banking sectors. The
benchmark Shanghai Composite Index was last down 0.30% at 3,312.42. Hong Kong's
Hang Seng Index was 0.58% lower at 29,512.81.
--MNI Beijing Bureau; +86 (10) 8532-5998; email:
--MNI Beijing Bureau; +86 (10) 8532-5998; email:
[TOPICS: M$A$$$,M$Q$$$,M$$FI$]
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