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Japan, China, India, South Korea, Thailand: Asian Bonds, Currency Preview

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 Yoshito Sengoku will hold a media briefing at 4 p.m. in Tokyo.

Hiromasa Yonekura, chairman of Sumitomo Chemical Co. and new chairman of the Japan Business Federation, or Keidanren, will hold a press briefing at 3:30 p.m.

The Bank of Japan will release at 8:50 a.m. its report on producer prices in June. The costs Japanese companies pay for energy and unfinished goods rose 0.6 percent in June from a year earlier, after a 0.4 percent increase in May, according to Bloomberg News survey of economists.

The yield on the 1.1 percent government bond due June 2020 was 1.15 percent, according to Japan Bond Trading Co., the nation’s largest interdealer debt broker.

The yen traded at 88.66 per dollar at 6:53 a.m. in Tokyo.

China: The trade surplus more than doubled from a year earlier to $20.02 billion in June as exports surged 44 percent to a record and import growth moderated for a third month, slowing to 34 percent from 48 percent, the government reported July 10. Economists surveyed by Bloomberg forecast a trade surplus of $15.55 billion, export growth of 38 percent and a 35 percent increase in imports.

The nation’s foreign-exchange reserves, the world’s largest, rose $7.2 billion to a record $2.454 trillion in the second quarter, the smallest increase since mid-2001, according to central bank data released yesterday. Money supply grew at the weakest pace since December 2008 and lending growth slowed for a third month, other figures showed.

Agricultural Development Bank of China plans to raise as much as 15 billion yuan ($2.2 billion) selling five-year debt today.

The yield on the 2.53 percent note due in June 2015 was 2.59 percent. The yuan was at 6.7735 per dollar.

India: A government report may show industrial production rose 16.1 percent in May from a year earlier, following a 17.6 percent expansion the previous month, according to the median estimate of 22 economists surveyed by Bloomberg News.

The finance ministry may announce details of this week’s debt auction. India will raise as much as 130 billion rupees ($2.8 billion) selling bonds with three different maturities, according to an auction calendar published in March by the central bank.

The yield on the 7.80 percent bond due May 2020 was 7.65 percent. The rupee was at 46.665.

Malaysia: The central bank plans to sell 1.5 billion ringgit ($470 million) of 119-day securities and 1 billion ringgit of 91-day Islamic notes.

The yield on the 3.835 percent debt maturing in August 2015 was 3.46 percent, according to Bursa Malaysia. The ringgit was at 3.199.

Philippines: The government plans to auction 1.5 billion pesos ($32.5 million) of 91-day bills, 3 billion pesos of 182- day notes and 3.5 billion pesos of 364-day securities.

The yield on the 7.75 percent debt due February 2020 was 7.74 percent, according to Philippine Dealing & Exchange Corp. The peso was at 46.165.

Singapore: The government will auction S$3.6 billion ($2.6 billion) of 91-day treasury bills.

The yield on the 3.25 percent notes due in September 2020 was 2.42 percent. The Singapore dollar was at S$1.3781.

South Korea: The government plans to raise as much as 1.6 trillion won ($1.3 billion) selling five-year debt. Separately, the central bank will offer 800 billion won of one-year bonds, 1 trillion won of 91-day notes and 2 trillion won of 28-day securities.

The yield on the 4.50 percent bond due in March 2015 was 4.52 percent. The won was at 1,195.90.

Thailand: The central bank will today sell 2 billion baht ($62 million) of 28-day bills and 4 billion baht each of 91- and 182-day notes.

The yield on the 5.375 percent bond maturing in December 2019 was 3.42 percent. The baht was at 32.36.

For Related News and Information: Asian currencies: TNI ASIA FX <GO> Central bank actions: STNI CENTRALBANKACT <GO> For most read Asian stories: MNI ASIA <GO> Top Economic News: TOP ECO <GO>

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