Le yuan chinois s’affaiblit en raison des difficultés persistantes du secteur immobilier

       SHANGHAI, Nov 16 (Reuters) - China's yuan weakened on
Thursday against the U.S. dollar, following data that showed
persistent weakness in property sector, suggesting an uneven
recovery in the world's second-largest economy.
    While October data this week showed the industrial and
retail sectors making a comeback, a sharp drop in property
investment and weak new home prices pointed to a struggling real
estate sector that remains a drag on the economy.
    "Optimism for the yuan remains aligned with that of the
Chinese economy," said Philip Wee, senior FX strategist at DBS,
adding that recovery hopes were also dampened by negative export
and inflation data.
    Prior to the market opening, the People's Bank of China set
the midpoint rate, around which the yuan is allowed
to trade in a 2% band, at 7.1724 per U.S. dollar, the firmest
level since Sept. 27.
    The spot yuan opened at 7.2550 per dollar and was
changing hands at 7.2603 at midday, 134 pips weaker than the
previous late session close and 1.23% away from the midpoint.
The spot rate is currently allowed to trade with a range 2%
above or below the official fixing on any given day.
    The offshore yuan was weaker against the dollar in
late trade on Wednesday after touching its strongest level in
three months, as U.S. retail sales fell less-than-expected.
    The offshore yuan was 39 pips weaker than the onshore spot
at 7.2642 per dollar.
    A closely watched meeting between U.S. President Joe Biden
and Chinese President Xi Jinping in San Francisco has not had
any major impact on the yuan.
    Maybank analysts said the market is more interested in news
around restrictions on China's access to U.S. technology rather
than any new promises.
    The global dollar index rose to 104.528 from the
previous close of 104.394. 


    The yuan market at 0327 GMT: 
    
    ONSHORE SPOT:
 Item               Current  Previous  Change
 PBOC midpoint      7.1724   7.1752    0.04%
                                       
 Spot yuan          7.2603   7.2469    -0.18%
                                       
 Divergence from    1.23%              
 midpoint*                             
 Spot change YTD                       -4.96%
 Spot change since 2005                14.00%
 revaluation                           
 
    Key indexes:
     
 Item            Current     Previous  Change
                                       
 Thomson                               0.0
 Reuters/HKEX                          
 CNH index                             
 Dollar index    104.528     104.394   0.1
 
    
    
*Divergence of the dollar/yuan exchange rate. Negative number
indicates that spot yuan is trading stronger than the midpoint.
The People's Bank of China (PBOC) allows the exchange rate to
rise or fall 2% from official midpoint rate it sets each
morning.

    OFFSHORE CNH MARKET   
  
 Instrument            Current   Difference
                                 from onshore
 Offshore spot yuan    7.2642    -0.05%
        *                        
 Offshore              7.077     1.35%
 non-deliverable                 
 forwards                        
               **                
 
*Premium for offshore spot over onshore
**Figure reflects difference from PBOC's official midpoint,
since non-deliverable forwards are settled against the midpoint.
. 
    
    

 
 
    

 (Reporting by Shanghai Newsroom. Editing by Sam Holmes)