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BEIJING (MNI) - The yuan was weaker against the U.S. dollar on Tuesday even
though the People's Bank of China set the fixing rate stronger for the day.
The yuan was last at 6.5465 against the U.S. unit, compared with the
official closing price of 6.5404 on Monday.
The PBOC set the yuan central parity rate at 6.5416, 0.41% stronger than
Money market rates were mixed Tuesday morning. The seven-day repo average
was last at 2.7852%, compared with Monday's average of 2.8192%. The overnight
repo average was at 2.5612%, compared with Monday's 2.5262%.
The PBOC drained a net CNY50 billion in liquidity on Tuesday after it
skipped open-market operations. It was the third consecutive trading day the
PBOC has skipped OMOs.
The yield on benchmark 10-year China government bonds was last at 3.8825%,
compared with the previous close of 3.8800%.
Stocks rose, with the motorcycle, transportation, and aircraft
manufacturing sectors leading gains. The benchmark Shanghai Composite Index was
last up 0.03% at 3,281.97. Hong Kong's stock market was closed for the Boxing
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