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

     BEIJING (MNI) - The yuan was weaker against the U.S. dollar on Tuesday

after the People's Bank of China set the fixing rate slightly weaker for the

day.

     The yuan was last at 6.6217 against the U.S. unit after opening at 6.6171,

compared with the official closing price of 6.6173 on Monday.

     The PBOC set the yuan central parity rate at 6.6162, slightly weaker than

Monday's 6.6152. 

     Money market rates were mixed Tuesday morning. The seven-day repo average

was last at 2.7768%, below Monday's average of 2.8706%. The overnight repo

average was at 2.7081%, above Monday's 2.6923%.

     The yield on benchmark 10-year China government bonds was last at 3.9014%,

down from the previous close of 3.9450%.

     Stocks were down, led lower by the the coal and gas production and supply

sector. The benchmark Shanghai Composite Index was last down 0.46% at 3,307.02.

Hong Kong's Hang Seng Index was 0.02% lower at 28,960.70.

--MNI Beijing Bureau; +86 (10) 8532-5998; email: iris.ouyang@marketnews.com

--MNI BEIJING Bureau; +1 202-371-2121; email: john.carter@mni-news.com

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