05042016Wed
Last update: Wed, 04 May 2016 11am

Asia

Markets - Fixed Income - Asia

India's gold bonds seen luring investors in search of safe haven MUMBAI: The second tranche of India's sovereign gold bonds, whose sale began on Monday, is likely to draw good response from investors, as they are priced below market rates for the metal and sharemarket turmoil spurs investors to diversify holdings.India plans to sell 150 billion rupees ($2.22 billion) in gold bonds in the fiscal year ending on March 31, as it seeks to wean investors off physical gold and contain the outflow of foreign exchange spent on imports.The price of gold has risen 4 percent so far in 2016, while India's benchmark NSE index has fallen nearly 7 percent."Given the correction in the stock market, interest is shifting in favour of gold," said Harish Galipelli, head of commodities and currencies at Inditrade Derivatives and Commodities."Investors are looking for safe-haven assets. This tranche will receive better response than the first tranche."The Reserve Bank of India has fixed the issue price of ...

Markets - Fixed Income - Asia

China approves $383bn worth of fixed asset investment in 2015 BEIJING: China approved 280 fixed asset investment projects worth 2.52 trillion yuan ($383.44 billion) in 2015, Li Pumin, the spokesman for the National Reform and Development Commission said on Tuesday.China also approved 32 projects worth 515.1 billion yuan in December, he said at a press conference in Beijing.Copyright Reuters, 2016 ...

Markets - Fixed Income - Asia

Islamic sukuk dive over Malaysia, low oil price: S&P DUBAI: The value of Islamic sukuk bonds dropped sharply last year after Malaysia stopped issuing them and as oil prices continued their fall, the Standard & Poor's rating agency said Wednesday.The trend is expected to continue in 2016 as the main countries using the Islamic form of debt, especially in the Gulf, are switching to conventional bonds, an S&P report said.It said sukuk worth $63.5 billion (59 billion euros) were issued in 2015 compared with ...

Markets - Fixed Income - Asia

Japanese government bonds  gain, 5 and 10 year yield hits 1 year low on risk reduction TOKYO: Japanese government bonds edged up on Wednesday, with the five and 10 year yields hitting a one year low, as soft economic news from China and North Korea's nuclear test prompted investors to rush to low-risk assets. The yield on the current 10-year JGBs dropped 0.5 basis point to 0.250 percent, hitting a one-year low of 0.245 percent at one point. The five-year bonds were traded at 0.025 percent .The yield fell below 0.03 ...

Markets - Fixed Income - Asia

Evergrande says to buy $3.2bn China property assets HONG KONG: Evergrande Real Estate Group Ltd said on Tuesday it has agreed to buy mainland property assets in cities including Shanghai and Beijing from the empire of Hong Kong tycoon Cheng Yu-tung for 20.4 billion yuan ($3.2 billion).Evergrande will buy a 60 percent stake in a commercial and residential development in Sichuan province and a project comprising hotel, residential and office buildings in Guizhou province from New World China Land Ltd, which is controlled ...

Markets - Fixed Income - Asia

Taiwan sets government bonds, bills issuance plan for Q1 TAIPEI: Taiwan plans to sell T$155 billion ($4.72 billion) in government bonds in the first quarter of next year, mainly to repay debt, the finance ministry said on Wednesday. The ministry said it would issue two-, three-, five-, 10- and 20-year government bonds in the January-March quarter.The government also plans to issue T$130 billion in treasury bills in the first three months of 2016, the ministry said.Copyright Reuters, 2015 ...

Markets - Fixed Income - Asia

Philippine corporate bond issuance may hit $2bn in 2016 MANILA: Philippine companies are expected to raise at least 100 billion pesos ($2.1 billion) by issuing bonds next year to finance expansion plans and infrastructure investments, the country's bond market operator said on Tuesday.Corporate bond listings in the PDS Group's fixed income trading platform slid to 107.4 billion pesos this year from a record 190 billion pesos in 2014 as market volatility weighed on investor sentiment."Because of the urgent need to start public-private partnership (PPP) ...