Yuan ends onshore trading at 6-month low

SHANGHAI China’s yuan on Monday ended the official domestic trading session at its lowest level in six months following the central bank’s cut in some banks’ reserve requirements in order to boost lending.

The spot yuan market opened at 6.5200 per dollar, weakened to a low of 6.5416 at one point before settling at 6.5240 at the closing bell at 0830 GMT, the weakest such close since Dec. 28.

If the onshore spot yuan ends the late night session at its domestic close, it would have lost 0.44 per cent against the dollar for the day.

— AP People monitoring stock prices at a brokerage house in Beijing on Monday. Asian stock markets fell and oil prices gave up some of their gains after Chinese regulators freed up extra money for bank lending amid a trade dispute with the US.