DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI CHINA MARKETS: Yuan Weaker; Rates Fall; Stocks Down 

     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
provider. 
     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: iris.ouyang@marketnews.com
--MNI Beijing Bureau; +86 (10) 8532-5998; email: vince.morkri@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,M$$FI$]
China Market NewsPolicy NewsAPACChinaJapanAustraliaNew ZealandRegion
China Market NewsPolicy NewsAPACChinaJapanAustraliaNew ZealandRegion
To read the full story
Close
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.