Chinese shares open lower

Beijing, March 22: Chinese stocks opened lower on Tuesday, with the benchmark Shanghai Composite Index down 0.57 percent, at 3,001.63 points.

The smaller Shenzhen index opened 0.82 percent lower at 10,308.91 points, Xinhua news agency reported.

The ChiNext Index, tracking China’s NASDAQ-style board of growth enterprises, declined 1.16 percent to open at 2,201.19 points.

Chinese yuan weakens

Beijing, March 22 :The central parity rate of the Chinese yuan to weakened 147 basis points to 6.4971 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 news agency 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.

Tokyo shares open higher

Tokyo, March 22 : Tokyo shares opened trading on Tuesday sharply higher following overnight gains in the US market and the Chinese yen’s depreciation.

At 9.15 a.m., the 225-issue Nikkei Stock Average jumped 373.44 points, or 2.23 percent, higher from Friday to 17,098.25, Xinhua news agency reported.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 28.59 points, or 2.13 percent, at 1,373.64.

The stock markets here were closed for a national holiday on Monday.

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