Nov. 22 (Bloomberg) -- The following events and economic reports may influence trading in Asian local-currency bonds today. Yields are from the previous session.

China: The government will clamp down on illegal projects to cool ``excessive'' growth in fixed-asset investment, the State Council said in a statement yesterday. China Development Bank sold 45 billion yuan ($6.1 billion) of 10-year bonds yesterday carrying a coupon of 5.07 percent. The rate compared with the 4.53 percent coupon on similar-maturity debt the bank sold in August.

The yield on the 3.53 percent bond maturing in July 2010 rose 1 basis point to 4.04 percent, according to China Interbank Bond Market. A basis point is 0.01 percentage point.

India: The government tomorrow plans to sell 30 billion rupees ($761 million) of 7.99 percent bonds maturing in 2017 and 40 billion rupees of 8.35 percent notes due 2022. The sale is part of the government's borrowing program, and is the fourth in the second half of the fiscal year ending March 31.

The yield on the 7.99 percent bond due in July 2017 was little changed at 7.88 percent, according to the central bank's trading system.

Indonesia: Central bank officials, including Governor Burhanuddin Abdullah, may speak to reporters about the economy and rupiah tomorrow in Jakarta after Friday prayers. The central bank may buy the rupiah to guard the currency from weakening further against the dollar, Bank Indonesia Deputy Governor Hartadi Sarwono said yesterday. ``We will continue to guard the rupiah by intervening in the market if necessary,'' Sarwono said.

The yield on the 10 percent bond due in July 2017 rose 6 basis points to 10.29 percent, according to the Inter Dealer Market Association.

Malaysia: The central bank will today report its foreign reserves for the two weeks ended Nov. 15. They rose 1.1 percent to $99.6 billion on Oct. 31. The government will sell 100 million ringgit ($29.6 million) of one-year bills today. Consumer prices rose 1.9 percent in October from a year earlier, compared with a gain of 1.8 percent in the previous month, the Department of Statistics said yesterday.

The yield on the 3.814 percent bond due February 2017 fell 2 basis points to 4.02 percent, according to the central bank.

Philippines: BDO Unibank Inc., the nation's second-largest bank by market value, yesterday sold twice as many as bonds as planned. BDO Unibank sold 10 billion pesos ($231 million) of bonds, said Francisco Vista, a bank spokesman. President Nestor Tan on Nov. 7 said the bank would sell at least 5 billion pesos of 10-year bonds to help pay $200 million of debt before it matures next year.

The yield on the 7 3/4 percent bond due August 2017 rose 1 basis point to 7.06 percent, according to the Philippine Dealing & Exchange Corp.

Singapore: Rents for high-quality offices in the city-state increased the fastest in the world this year, almost doubling from 2006, said CB Richard Ellis Group Inc., the world's largest commercial real estate broker. Singapore led in rental growth, with occupancy costs rising 83 percent from last November, led by demand from financial services companies, a survey by CB Richard Ellis showed.

The yield on the 3 3/4 percent bond due September 2016 declined 2 basis points to 2.79 percent, according to data compiled by Bloomberg.

South Korea: The government sold 115 billion won ($124 million) of 10-year inflation-linked bonds yesterday at a yield of 3.67 percent. Investors submitted total bids of 150 billion won for the securities on offer. Korea yesterday signed an agreement on services with nine of the 10 countries in the Association of Southeast Asian Nations, moving closer to completing a free-trade deal with the regional group.

The yield on the 5 1/4 percent bond due September 2012 rose 12 basis points to 5.72 percent, according to Korea Exchange.

Sri Lanka: The government will refrain from raising kerosene and diesel prices to rein in inflation, Minister of Petroleum A.H.M. Fowzie yesterday. Consumer prices rose to a nine-month high in October.

The yield on the 7 1/2 percent bond due in June 2009 fell 10 basis points to 16.1 percent, according to First Capital Treasuries Ltd.

Taiwan: The economy may have expanded 5.12 percent in the third quarter from a year earlier, compared with 5.07 percent growth in the previous three months, according to the median estimate of 16 economists surveyed by Bloomberg News. The statistics bureau will release the report in Taipei today.

The yield on the 2 3/8 percent bond due in September 2017 fell 4 basis points to 2.54 percent, according to Gretai Securities Market.

Thailand: The nation yesterday sold 7 billion baht ($207 million) of bonds maturing in 2018 at an average yield of 5.3267 percent. The yield was about 1 basis point more than that of existing 10-year bonds.

The yield on the 5 percent bond due March 2018 rose 7 basis points to 5.32 percent, according to the Thai Bond Market Association.

To contact the reporter on this story: Sam Nagarajan in New Delhi at samnagarajan@bloomberg.net.

Last Updated: November 21, 2007 12:01 EST