BAFL 38.64 Decreased By ▼ -0.16 (-0.41%)
BIPL 16.63 Increased By ▲ 0.41 (2.53%)
BOP 3.94 Decreased By ▼ -0.01 (-0.25%)
CNERGY 3.10 No Change ▼ 0.00 (0%)
DFML 16.27 Decreased By ▼ -0.03 (-0.18%)
DGKC 43.82 Decreased By ▼ -0.21 (-0.48%)
FABL 22.15 Decreased By ▼ -0.26 (-1.16%)
FCCL 10.91 Increased By ▲ 0.06 (0.55%)
FFL 6.30 Increased By ▲ 0.27 (4.48%)
GGL 9.60 Increased By ▲ 0.06 (0.63%)
HBL 92.48 Decreased By ▼ -2.10 (-2.22%)
HUBC 87.34 Increased By ▲ 0.39 (0.45%)
HUMNL 5.48 Decreased By ▼ -0.13 (-2.32%)
KEL 1.96 Increased By ▲ 0.05 (2.62%)
LOTCHEM 28.22 Increased By ▲ 0.34 (1.22%)
MLCF 29.48 Decreased By ▼ -0.07 (-0.24%)
OGDC 95.99 Decreased By ▼ -0.63 (-0.65%)
PAEL 10.07 Decreased By ▼ -0.38 (-3.64%)
PIBTL 3.92 Increased By ▲ 0.10 (2.62%)
PIOC 85.00 Decreased By ▼ -0.50 (-0.58%)
PPL 72.97 Decreased By ▼ -1.17 (-1.58%)
PRL 15.43 Increased By ▲ 0.21 (1.38%)
SILK 0.94 Decreased By ▼ -0.04 (-4.08%)
SNGP 46.27 Decreased By ▼ -0.07 (-0.15%)
SSGC 9.07 Decreased By ▼ -0.03 (-0.33%)
TELE 6.93 Decreased By ▼ -0.01 (-0.14%)
TPLP 12.35 Increased By ▲ 0.03 (0.24%)
TRG 89.31 Decreased By ▼ -1.14 (-1.26%)
UNITY 25.43 Decreased By ▼ -0.36 (-1.4%)
WTL 1.15 Increased By ▲ 0.02 (1.77%)
BR100 4,649 Decreased By -10.8 (-0.23%)
BR30 16,565 Decreased By -91.4 (-0.55%)
KSE100 46,278 Decreased By -116 (-0.25%)
KSE30 16,152 Decreased By -66.9 (-0.41%)
Business & Finance

China Bond Connect sees record trade

Offshore investors traded record volumes of bonds through China's Bond Connect programme in March amid a coronavirus outbreak that continued to paralyse the country's economy, and as its spread prompted a flight to safety in global markets.
Published 06 Apr, 2020 12:00am

Offshore investors traded record volumes of bonds through China's Bond Connect programme in March amid a coronavirus outbreak that continued to paralyse the country's economy, and as its spread prompted a flight to safety in global markets.
Trading volumes through Bond Connect totalled a record 478.2 billion yuan ($67.52 billion) in March, data from Bond Connect Company showed on Wednesday, up 67.7% from the previous month.
Trading tickets totaled 5,007, also a record, up from 3,608 in February. The Bond Connect data did not include information on offshore bondholdings, which totalled a record 2.3 trillion yuan at the end of February.
Foreign investors have steadily increased their investments in onshore Chinese bonds over the past year, driven by a stable yuan, attractive yields and gradual inclusion in global fixed-income indexes.
But market sources have seen some net selling of Chinese government and policy bank bonds in recent weeks as a global financial panic, sparked by the coronavirus pandemic, led to a rush for dollar liquidity. Market volatility has prompted global index providers to delay the inclusion of Chinese bonds and stocks into their benchmarks.
Foreign investors sold a net 67.88 billion yuan worth of mainland A-shares through China's Stock Connect scheme in March, a record outflow, data from Hong Kong Exchanges and Clearing showed.
Analysts say stability in the yuan's exchange rate with the US dollar in recent weeks shows attempts by China's central bank to stabilise sentiment and offset capital outflow pressure.
Launched in July 2017, Bond Connect offers offshore investors access to China's interbank bond market through its "Northbound" leg. China has yet not implemented a "Southbound" leg, which would allow onshore investors to trade bonds in Hong Kong and overseas markets.

Copyright Reuters, 2020

Comments

Comments are closed.

China Bond Connect sees record trade

Three terrorists killed in Khyber intelligence based operation: ISPR

Open-market: rupee strengthens against US dollar

Cumulative inflow under RDA hits $6.62bn: SBP

Special court extends Imran, Qureshi’s judicial remand for 14 days

PML-N assails interim interior minister for remarks on Nawaz’s arrest upon return

Unfamiliar Indian conditions not a worry for Pakistan: Babar Azam

Afghanistan’s currency emerges as world’s best performer this quarter: report

Turkiye lira weakens to new record low vs dollar

Gul Ahmed Textile Mills’ profit sees massive decline in FY23

Security reasons: Pakistan’s warm-up match in India to be played behind closed doors