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Japan, China, India, Malaysia, South Korea: 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 media briefings at 11 a.m. and 4 p.m. in Tokyo.
The Trade Ministry will release at 8:50 a.m. in Tokyo its report on retail sales. They rose 3.2 percent in June from a year earlier, after a 2.8 percent increase in May, according to a Bloomberg News survey of economists.
The Ministry of Finance will release at 8:50 a.m. in Tokyo its report on Japanese and foreign investment flows for domestic and overseas securities during the week ended July 23.
The Ministry of Finance will announce at 10:30 a.m. in Tokyo the amount of 40-year government bonds it plans to sell on Aug. 5.
The yield on the 1.1 percent government bond due in June 2020 was 1.09 percent, according to Japan Bond Trading Co., the nation’s largest interdealer debt broker.
The yen traded at 87.36 per dollar at 6:52 a.m. in Tokyo.
China: The central bank will sell 85 billion yuan ($12.5 billion) of three-year notes and 22 billion yuan of three-month debt today, according to a statement on its website yesterday.
The yield on the 2.53 percent note due in June 2015 was 2.64 percent. The yuan was at 6.7780 per dollar.
India: The government will publish food-inflation data for the week ended July 17 today. An index measuring wholesale prices of agriculture products including lentils, rice and vegetables rose 12.47 percent in the week ended July 10 from a year earlier.
The yield on the 7.80 percent bond due May 2020 was 7.75 percent. The rupee was at 46.765.
Malaysia: The government will sell 3.5 billion ringgit ($1.1 billion) of seven-year bonds today, with bidding closing at 11:30 a.m. local time. The yield on the 3.835 percent bond due in August 2015 was 3.41 percent. The ringgit was at 3.1940.
Philippines: Finance Secretary Cesar Purisima and Tax Commissioner Kim Henares may comment on revenue collection and the budget deficit at an 11 a.m. briefing in Manila today.
The yield on the 7.75 percent debt due in February 2020 was 7.44 percent, according to Philippine Dealing & Exchange Corp. The peso was at 45.87.
South Korea: Manufacturers’ confidence fell from near a seven-year high on concern domestic demand may weaken due to the August holiday season. An index measuring expectations for next month fell to 102 from 104 for July, the Bank of Korea said today. A measure of non-manufacturing companies’ expectations rose to 89 from 87.
The yield on the 4.50 percent bond due in March 2015 was 4.4 percent. The won was at 1,187.
--Judy Chen. With assistance from Ron Harui in Tokyo and Clarissa Batino in Manila. Editors: Ven Ram, Garfield Reynolds.
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