Chinese shares open lower; yuan strengthens

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Chinese stocks opened lower on Thursday, with the benchmark Shanghai Composite Index down 0.02 percent to open at 2,543.85 points.

The Shenzhen Component Index opened 0.07 percent bring down at 7,442.70 points, Xinhua news organization revealed.

In the interim, the focal equality rate of the Chinese cash renminbi, or the yuan, reinforced 366 premise points to 6.8160 against the US dollar, as indicated by the China Foreign Exchange Trade System.

In China’s spot remote trade showcase, the yuan is permitted to rise or fall by 2 percent from the focal equality rate each exchanging day. The focal equality rate of the yuan against the US dollar depends on a weighted normal of costs offered by market creators before the opening of the interbank showcase every business day.

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