08302016Tue
Last update: Tue, 30 Aug 2016 03pm

Asia

Markets - Fixed Income - Asia

China says risk in bonds of big state-owned firms 'controllable' SHANGHAI: China's state asset manager, in the wake of increasing debt defaults have rattled Chinese markets, on Friday called risk in bonds issued by central government-owned firms "controllable". The State-owned Assets Supervision and Administration Commission (SASAC) said it made the conclusion after a detailed probe into all bonds issued by such enterprises.The investigations were launched after one firm, China Railway Materials Co Ltd, in mid-April sought suspension of trade in 16.8 billion yuan ($2.60 billion) worth of its debt instruments, as the company struggles to make payments.Following that risk warning, SASAC "conducted a comprehensive probe of various bonds issued by 106 central government-owned enterprises," the commission said in a statement on its website."While the central government enterprises are faced with negative factors such as a slowdown of the economy, their operations are trending better and their financial indications are stable," it said. "Overall their debt risk is controllable."Chinese markets are ...

Markets - Fixed Income - Asia

20-year JGB yield falls to record low of 0.225pc TOKYO: The yield on 20-year Japanese government bonds fell to a record low of 0.225 percent on Friday as the Japanese bond market tracked gains in US Treasuries. The 20-year JGB yield has fallen almost 70 basis points since the Bank of Japan announced negative interest rates in late January.Copyright Reuters, 2016 ...

Markets - Fixed Income - Asia

JGBs gain on fall in Japan stocks, 20-yr yield hits record low TOKYO: Japanese government bond prices rose on Monday, sending the benchmark 20-year yield to a record low, after Japanese share prices fell more than 3 percent to three-week lows on the yen's gains. The 20-year JGB yield fell to as low as 0.235 percent , below its previous trough of 0.245 percent touched on April 20. It last stood at 0.240 percent, down 5 basis points from the previous session on Thursday.Japanese financial markets were ...

Markets - Fixed Income - Asia

JGBs firm, superlong zone rallies after BOJ operations TOKYO: Japanese government bonds firmed on Tuesday, with prices of superlong JGBs rallying after strong results of the Bank of Japan's buying operations.The central bank offered to buy 450 billion yen ($4.06 billion) of JGBs in the 5- to 10-year zone, 220 billion yen of JGBs in the 10- to 25-year zone and 180 billion yen of JGBs in the 25- to 40-year zone under its JGB purchase programme.The offer-to-cover ratios, which gauge selling pressure, ...

Markets - Fixed Income - Asia

JGBs edge down despite solid 20-year auction TOKYO: Japanese government bonds mostly edged down on Thursday, as firm demand at a 20-year auction failed to offset waning risk aversion and rallying equities. But the 30-year JGB bucked the trend and edged higher, its yield nudging to a fresh record low.Japan's Ministry of Finance offered 1.1 trillion yen ($10.04 billion) of 20-year JGBs with a coupon of 0.400 percent.The lowest accepted price was 102.40, while the bid-to-cover ratio, a gauge of demand, rose ...

Markets - Fixed Income - Asia

Malaysia says $1.5 billion sukuk oversubscribed KUALA LUMPUR: Malaysia said on Thursday that it has successfully priced a $1.5 billion dual-tranche benchmark Islamic bond, or sukuk, which was oversubscribed by 4.2 times. The sukuk is split between a $1 billion 10-year tranche and a $500 million 30-year trache at a rate of 3.179 percent and 4.080 percent respectively, the ministry of finance said in a statement. The deal was oversubscribed by 4.2 times, attracting an aggregate interest of over $6.3 billion ...

Markets - Fixed Income - Asia

China finance ministry sells 7-year bond at 2.9393pc, above f'casts SHANGHAI: China's Ministry of Finance auctioned 33 billion yuan ($5.10 billion) of seven-year bonds in the interbank market on Wednesday at an average yield of 2.9393 percent, traders said, higher than expected. Market forecasts had centred around 2.86 percent and ranged from 2.80 to 2.90 percent. The auction yield came in above Tuesday's benchmark secondary market yield of 2.8455 percent for seven-year government bonds. For stories on Chinese debt issues, click on. ($1 = 6.4690 ...