To read the full report, data and graphs go to http://www.asianbondsonline.adb.org/newsletters/abowdh20140113.pdf?src=newsletter&id=uWidK3KdmgXVUWes9IgIcqKp1miwxx
******************************************************************************
News Highlights - Week of 6 - 10 January 2014
Consumer price inflation in the People's Republic of
China's (PRC) slowed in December to 2.5% year-on-year (y-o-y) from 3.0% in November
due to a decrease in the pace of rising
food prices. In the Philippines, consumer price inflation accelerated to 4.1%
y-o-y in December from 3.3% in November as a majority of commodity groups
posted higher annual price increases.
* The PRC's exports
increased at a slower pace in December, rising 4.3% y-o-y compared with 12.7%
in November. In contrast, import growth accelerated, expanding 8.3% y-o-y in
December. Malaysia's exports surged for the fifth consecutive month in
November, rising 6.7% y-o-y to MYR62.2 billion, which was down from the 9.6%
growth posted in October. In the
Philippines, merchandise exports rose 18.9% y-o-y in November to US$4.3
billion.
* Bank
Indonesia's Board of Governors decided to keep its benchmark interest rate steady
at 7.50% and the lending facility rate at 7.50% and the deposit facility rate
at 5.75%. The Bank of Korea's Monetary Policy Committee decided to keep the
base rate steady at 2.50%.
* The
outstanding amount of household loans made by depository corporations in the
Republic of Korea expanded 4.3% y-o-y in November to KRW681.1 trillion.
Meanwhile, foreign investors' net investment in the Republic of Korea's local
currency bond market stood at KRW3.5 trillion in 2013.
* Malaysia's
industrial production expanded 4.4% y-o-y in November following revised 1.8%
growth a month earlier, with all major indices contributing to the increase in
output. In December, manufacturing activity in Singapore contracted for the
first time in 9 months as the overall Purchasing Managers Index (PMI) fell to
49.7 from 50.8 in November.
* The Securities
and Exchange Commission (SEC) of Thailand announced last week its 2014-16
strategic plan for the development of the Thai capital market-in the areas of
corporate governance, market capitalization, liquidity, and sustainable
development-to increase the market's visibility in the international community.
* Last week,
Hong Kong Land Finance priced a US$400 million 10-year bond at a coupon of
4.625%. In Indonesia, the government sold US$2 billion of 10-year bonds to
yield 5.95% with a coupon of 5.875%, and US$2 billion of 30-year bonds to yield
6.85% with a coupon of 6.75%. Korea Eximbank priced US$750 million worth of
3-year floating-rate notes at 75 basis points above 3-month LIBOR, and another
US$750 million worth of 10-year fixed-rate notes carrying a coupon of 4.0%.
* Bank of
China's London branch issued a 3-year CNH2.5 billion bond with a coupon of
3.45%. Also, China Electronics priced a
3-year CNH2.75 bond at a coupon of 4.70%, and Agricultural Development Bank
(ADBC) priced a 2-year CNH2.0 billion bond at coupon of 3.08% and a 3-year
CNH1.0 billion bond at a coupon of 3.28%.
* Government
bond yields fell last week for all tenors in the Republic of Korea, and for
most tenors in the PRC, Indonesia, Malaysia, Singapore and Viet Nam. Yields
rose for most tenors in Hong Kong, China; the Philippines and Thailand. Yield
spreads between 2- and 10- year maturities widened in the PRC; Hong Kong,
China; Malaysia; Thailand and Viet Nam, while spreads narrowed in other
emerging East Asian markets.
******************************************************************************
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.