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
Ultra-Luxury Housing Booms in NCR as Rs 50 Crore+ Home Sales Soar 2,550%
IPS Officer Siddharth Kaushal Resigns Voluntarily Amid Postings Row in Andhra Pradesh
TN Government To Rejuvenate 5,000 Irrigation Tanks to Revive Traditional Water Bodies
Kolkata Law College Rape Accused Was Hired Despite Criminal Record, Sources Reveal
Auto Parts Startup Garaaz Raises Rs 4.55 Cr from GVFL to Expand Nationwide