China finance ministry sells 10-year bond at avg 3.5059pc

SHANGHAI: China's Ministry of Finance auctioned 30 billion yuan ($4.75 billion) of reopened 10-year bonds in the interbank market on Wednesday at an average yield of 3.5059 percent, traders said, at the low end of expectations.

Market forecasts had centred around 3.53 percent and ranged from 3.50 to 3.56 percent.

The auction yield came in below Wednesday's indicative secondary market bid yield of 3.520 percent for 10-year government bonds.