Free Trial

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

     BEIJING (MNI) - The yuan fell against the U.S. dollar on Monday after the
People's Bank of China set the fixing rate weaker for the day.
     The yuan was last at 6.4222 against the U.S. unit, compared with the
official closing price of 6.4169 on Friday.
     The People's Bank of China set the yuan central parity rate at 6.4208 on
Monday, weaker than last Friday's 6.4078.
     Interbank market rates fell after PBOC net injected CNY20 billion via open
market operations.
  - 7-day repo average fell to 2.6843% from Friday's average of 2.9415%;
  - Overnight repo average dropped to 2.5627% from Friday's 2.7979%.
     Yield on 10-year China Government Bond last traded 3.6500%, up from 3.6250%
close on Thursday: Wind Information.
     The Shanghai Composite Index was up 0.27% to 3083.34 at 10:57 am, while
Hong Kong's Hang Seng Index rose 1.24% to 30,869.57.
--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$]

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.