Yuan Rise in 2Q as Exports Improve -PNC

        0258 GMT [Dow Jones] China's central bank will likely allow the yuan to appreciate in the second quarter because exports show improvement, PNC economist Bill Adams says. "With China's exports consolidating and most of its PMIs marginally higher in April than March there is a good chance the People's Bank of China will allow the yuan to recover some of the first quarter's depreciation," Adams says in a note. China's exports rose a modest 0.9% year over year in April but economists say actual export conditions are better than the headline figures because 2013 figures were distorted by over invoicing of exports. (liyan.qi@wsj.com)
        (END) Dow Jones Newswires

        May 07, 2014 22:58 ET (02:58 GMT)