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Japan, Indonesia, Philippines: Asia Bonds and Currency Preview

By Lilian Karunungan

Nov. 10 (Bloomberg) -- The following events and economic reports may influence trading in Asia’s local bonds and currencies today. Bond yields and exchange rates are from the previous trading session unless stated otherwise.

Japan: Chief Cabinet Secretary Hirofumi Hirano and Finance Minister Hirohisa Fujii will have press briefings after a cabinet meeting in the morning. Hirano will hold another media briefing at 4 p.m. in Tokyo.

The Ministry of Finance will release at 8:50 a.m. in Tokyo its report on the current-account balance in September. The current-account surplus widened to 1.51 trillion yen ($16.8 billion) in September from 1.17 trillion yen in August, according to a Bloomberg News survey of economists.

The Cabinet Office will publish at 2 p.m. in Tokyo the Economy Watchers index for October. The index, a survey of barbers, taxi drivers and others who deal with consumers, was unchanged at 43.1 in October, a separate survey showed.

The yield on the 1.4 percent bond due September 2019 rose 2.5 basis points to 1.475 percent, the highest level since June 17, according to Japan Bond Trading Co., the nation’s largest interdealer debt broker. The yen traded at 90.03 per dollar at 8:08 a.m. in Sydney.

China: Government figures due tomorrow will show overseas sales fell 13 percent from a year earlier in October, the smallest decline in 2009, according to the median estimate of economists surveyed by Bloomberg. Consumer prices declined 0.4 percent last month from a year ago, a survey showed.

China Development Bank will sell 20 billion yuan ($2.9 billion) of seven-year bonds today.

The yield on the 3.01 percent note due November 2012 was little changed at 2.45 percent, according to the National Interbank Funding Center. The yuan was at 6.8272 per dollar.

India: The government plans to sell 70 billion rupees ($1.5 billion) of treasury bills at a weekly auction tomorrow. It will offer 50 billion rupees of 91-day notes and 20 billion rupees of 182-day securities, according to the central bank.

The yield on the 6.9 percent note due July 2019 was 7.3 percent, according to the central bank’s trading system. The rupee was at 46.46 per dollar.

Indonesia: The statistics bureau will report today that economic growth accelerated to 4.17 percent in the third quarter from a seven-year low of 4 percent in the previous three months, according to the median estimate of economists in a Bloomberg News survey.

The yield on 11.5 percent note due September 2019 was 10.23 percent, according to the Inter Dealer Market Association. The rupiah was at 9,415 per dollar.

Malaysia: Industrial production fell 3.8 percent in September from a year earlier, the smallest decline in 11 months, according to the median forecast of economists in a Bloomberg News survey. The statistics department will release the data at 12:01 p.m. in Kuala Lumpur today.

The central bank will sell 500 million ringgit ($148 million) of 91-day Islamic notes tomorrow. The securities yielded 2.031 percent at a Nov. 4 sale.

The yield on the 3.741 percent note maturing February 2015 was 3.82 percent, according to data compiled by Bloomberg. The ringgit was at 3.3805 per dollar.

Taiwan: Exports dropped 4.7 percent in October from a year earlier, after falling 12.7 percent in September, the finance ministry said late yesterday. That was the smallest decline since September 2008 and less severe than the 7.2 percent slump forecast in a Bloomberg survey of economists.

The yield on the 1.375 percent bond maturing September 2019 was 1.445 percent, according to Gretai Securities Market, Taiwan’s biggest exchange for bonds. The Taiwan dollar was at NT$32.365.

Thailand: The central bank will sell 35 billion baht ($1.1 billion) of combined 29, 91 and 182-day bills today.

The yield on the 3.875 percent bond maturing in June 2019 was at 4.45 percent, according to the reference yield from the Thai Bond Market Association. The baht was at 33.31 per dollar.

The Philippines: The statistics office will report today that exports in September dropped 17.8 percent from a year earlier, according to the median estimate of economists in a Bloomberg News survey. That would be the smallest decline in 10 months. The report is due at 9 a.m.

The yield on the 7.875 percent debt due February 2019 was 7.95 percent, according to Philippine Dealing & Exchange Corp. The peso was at 46.903 per dollar.

To contact the reporter on this story: Lilian Karunungan in Singapore at at lkarunungan@bloomberg.net.

Last Updated: November 9, 2009 16:18 EST

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