Chinese shares open lower

Beijing, March 8 (IANS) Chinese stocks opened lower on Tuesday, with the benchmark Shanghai Composite Index down 0.06 percent, at 2,895.67 points.

The smaller Shenzhen index opened 0.14 percent lower at 9,690.57 points, Xinhua news agency reported.

The ChiNext Index, tracking China’s NASDAQ-style board of growth enterprises, was down 0.44 percent to open at 1,944.65 points.

Chinese yuan strengthens against dollar

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 72 basis points to 6.5041 against the US dollar on Tuesday, according to the China Foreign Exchange Trading System.

In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day, Xinhua reported.

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.

Sensex gains 44 points in early trade

 A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), on Tuesday was trading 43.88 points, or 0.18 percent up during the morning session.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 9.80 points, or 0.13 percent up at 7,495.15 points.

The Sensex of the BSE, which opened at 24,655.19 points, was trading at 24,690.36 points (at 9.15 a.m.) in the early session, up 43.88 points, or 0.18 percent from the previous day’s close at 24,646.48 points.

The Sensex touched a high of 24,703.57 points and a low of 24,629.23 points in the trade so far.

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