BEIJING: Chinese stocks opened higher on Tuesday with the benchmark Shanghai Composite Index up 0.16 percent to open at 3,330.32 points.The smaller Shenzhen index opened 0.32 percent higher at 11,341.3 points, Xinhua news agency reported. The ChiNext Index, tracking China’s NASDAQ-style board of growth enterprises, gained 0.49 percent to open at 2,444.05 points.
The central parity rate of the Chinese currency renminbi, or the yuan, weakened by 156 basis points to 6.3310 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.
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.
