Markets

China's yuan steady, better-than-expected PMI survey no impact

Published September 23, 2014 Updated September 23, 2014 05:34am

1 min

By Shoaib Ur Rehman

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HONG KONG: China's yuan was little changed against the dollar on Tuesday after the central bank set a very marginally stronger official guidance rate.

The People's Bank of China set the midpoint at 6.1470 per dollar, up 0.02 percent from the previous fix.

Spot yuan changed hands at 6.1399 near midday, up 0.01 percent from Monday's close at 6.1404.

Activity in China's manufacturing sector unexpectedly picked up in September even as factory employment slumped to a 5-1/2-year low, a survey showed, but it had no impact on the spot market.

The HSBC/Markit Flash China Purchasing Managers' Index (PMI) rose to 50.5 in September from August's final reading of 50.2. The onshore spot yuan market at a glance:

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