WRAPUP-2-China offshore yuan jumps on suspected intervention as IMF's currency decision looms
* Yuan continues slide, offshore yuan spread narrows
* Some traders suspect c.bank intervention offshore
* Stock markets recover large losses (Adds analyst comments)
By Michelle Chen and Samuel Shen
HONG KONG/SHANGHAI Nov 30 (Reuters) - China's yuan jumped in offshore trade on Monday on suspected intervention by Beijing just hours before the International Monetary Fund's decision that is expected to grant the currency global reserve status, while Chinese stocks recovered heavy earlier losses.
The offshore yuan opened at 6.4515 per dollar, its lowest level in 3 months and priced at a deep discount to the onshore rate - a situation the central bank has resisted in the recent past after an unexpected devaluation in August had prompted market speculation of more yuan weakness.
The People's Bank of China (PBOC) set the midpoint rate at 6.3962 per dollar prior to market open, and the onshore spot yuan stayed pegged to the midpoint at 6.3961.
The offshore rate firmed sharply in early morning trade to around 6.42 per dollar, leading some traders to suspect state-owned Chinese banks were buying up yuan on orders from the central bank.
The sharp early moves come just as the IMF looks set to approve the inclusion of the yuan in its reserve currency basket when it meets on Monday in what is seen as a symbolic coming of age for the world's second-biggest economy. Continuación...