Chinese shares open lower; yuan weakens
20-December-2018
Chinese stocks opened lower on Thursday, with the benchmark Shanghai Composite Index down 0.2 per cent to open at 2,544.51 points.
The Shenzhen Component Index opened 0.22 per cent lower at 7,402.2 points, Xinhua news agency reported.
Meanwhile, the central parity rate of the Chinese currency renminbi, or the yuan, weakened 67 basis points to 6.8936 against the US dollar, according to the China 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. - IANS
ED Attaches Rs 97.79 Crore Worth of Properties Belonging to Raj Kundra Under PMLA
ISRO's Former Director Cites Probability Theory in Support of Possible Alien Existence
Gaming Startup LightFury Raises $8.5 Million to Develop AAA Titles in India and UK
Wow! Momo Raises Rs 70 Crore, Following Rs 350 Crore Investment to Extend Growth
After Six Years of Profitable Bootstrapping, Medulance Raises Rs 25 Crore to Expand Nationally