China's central bank confirms extended onshore yuan trading hours

The People’s Bank of China has announced that trading hours for the onshore yuan traded on the mainland will be extended from 4:30 pm to 11:30 pm local time starting on January 4, The Wall Street Journal reported, citing a statement from the central bank. The PBOC said trading hours could also help narrow the gap between the onshore yuan and that traded in Hong Kong’s offshore market. Even after the yuan’s trading hours are extended, the central bank said it would still base the yuan’s closing level on its rate against the dollar at 4:30 p.m. local time.