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

     BEIJING (MNI) - The Chinese yuan weakened to 6.3672 against the U.S. dollar
on Thursday from yesterday's 6.3602 closing, following today's weaker fixing.  
     The People's Bank of China set the yuan central parity rate at 6.3732
Thursday, weaker than Wednesday's 6.3670. The central bank has set the fixing
weaker for four trading days in a row.
     Interbank market rates decreased after PBOC net drained CNY70 billion via
open-market operation.
  - 7-day repo average fell to 2.7771% from 2.9455% yesterday; 
  - Overnight repo average dropped to 2.6305% from 2.7080% yesterday. 
     Yield on 10-year China Government Bond last traded 3.6500%, down from
3.6800% close yesterday: Wind Information.
The Shanghai Composite Index declined 0.55% to 3064.10 at 11:04 am, while Hong
Kong's Hang Seng Index was last down 1.7% to 30201.31.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: iris.ouyang@marketnews.com
--MNI Beijing Bureau; +86-10-8532-5998; email: beijing@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,M$$FI$,MN$FI$,MN$FX$]

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