The yuan firmed at the open Wednesday, one day after China approved the launch of the long-anticipated Shenzhen-Hong Kong Stock Connect.

The People’s Bank of China set the midpoint rate at 6.6056 yuan per dollar prior to market open. That was firmer than the previous fix of 6.6305, and firmer than the previous day’s closing of 6.6267. The spot market opened at 6.6220 yuan per dollar and was changing hands at 6.6265 in early trade, 0.32 percent firmer than the midpoint.

Analysts say the yuan is expected to remain stable in the near future with adjustments in the U.S. dollar index.