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Chinese shares open higher; yuan weakens

IANS  |  Beijing 

Chinese stocks opened higher on Monday, with the Composite Index up 0.12 per cent to open at 2,599.06 points.

The Shenzhen Component Index opened 0.13 per cent higher at 7,591.19 points, reported.

Meanwhile, the central parity rate of the Chinese currency renminbi, or the yuan, weakened 109.00 basis points to 6.7774 against the US dollar, according to the Foreign Exchange Trade System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 per cent from the central parity rate each trading day.

The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.



(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Mon, January 21 2019. 07:56 IST