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China sets Yuan 0.05% higher against US$

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China’s currency has stopped its three-day slide. The country’s Central Bank allowed the value of the Yuan to rise against the US dollar by a fraction of a percentage point at the start of Friday’s session. This comes after Beijing said the depreciation was largely finished. China has defended this week’s policy shift, saying it came from a desire to implement market-oriented reforms and was not an effort to boost exports. As a result, stock markets in the Asia-Pacific region ended the trading day mixed. Only Shanghai managed to close slightly higher.

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