SHANGHAI, Jan 13 (Reuters) - China's yuan firmed in early trade on Wednesday, after overnight yuan rates in Hong Kong spiked to record highs in the previous session, which some traders attributed to the central bank's mounting efforts to stabilise the currency.
The People's Bank of China set the midpoint rate at 6.563 per dollar prior to the market open, weaker than the previous fix of 6.5628, and firmer than the previous day's closing quote 6.5756.
In the spot market, yuan opened at 6.5708 per dollar and was changing hands at 6.5708 in early trade, 48 pips away from the previous close and 0.12 percent away from the midpoint. The spot rate is allowed to trade with a range 2 percent above or below the official fixing on any given day.
The offshore yuan was trading 0.06 percent softer than the onshore spot at 6.5745 per dollar. (Reporting By Nathaniel Taplin)