Japan, China, Korea, Malaysia, Philippines: Asia Bonds, Currency Preview
Aug. 9 (Bloomberg) -- Ben Collett, head of equities at Louis Capital Markets (Hong Kong) Ltd., talks with Bloomberg's Susan Li about his investment for Japanese stocks. Japanese stocks fell, sending the Topix index to its first drop in three days, after U.S. companies hired fewer workers than forecast in July, undermining confidence in a global economic recovery. Collett, speaking in Hong Kong, also discusses the outlook for the yen and Japanese government bonds. (Source: Bloomberg)
Aug. 10 (Bloomberg) -- Naomi Fink, a Japan strategist at Bank of Tokyo-Mitsubishi UFJ, talks about the outlook for the Japanese economy and the yen. She speaks with Linzie Janis on Bloomberg Television's "Start Up." (Source: 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 Yoshito Sengoku will hold media briefings at 11 a.m. and 4 p.m. in Tokyo.
The Ministry of Finance will publish at 8:50 a.m. in Tokyo its report on Japanese and foreign investment flows for domestic and overseas securities during the week ended Aug. 6.
The Cabinet Office will release at 2 p.m. in Tokyo its report on Japanese household sentiment for July. The confidence index rose to 43.9 from 43.5 in June, according to a Bloomberg News survey of economists.
The yield on the 1.1 percent government bond due in June 2020 was 1.005 percent, according to Japan Bond Trading Co., the nation’s largest interdealer debt broker.
The yen traded at 85.18 per dollar at 7:47 a.m. in Tokyo.
China: The National Bureau of Statistics may report as early as today foreign direct investment data for the first seven months of the year.
The central bank will sell 86 billion yuan ($12.7 billion) of three-year debt today, according to a statement on its website. The Agricultural Development Bank of China will sell 15 billion yuan of 10-year bonds today. The yield on the 2.53 percent security due in June 2015 was 2.6 percent. The yuan was at 6.774.
India: Industrial output rose 8.3 percent in June from a year earlier after having gained 11.5 percent the previous month, according to a Bloomberg survey before data due today.
The yield on the 7.80 percent bond due in May 2020 was 7.929 percent. The rupee was at 46.6975.
Thailand: Financial markets and government offices are closed today and tomorrow for public holidays.
South Korea: Seven of 15 economists expect the Bank of Korea to raise the seven-day repurchase rate today by 25 basis points to 2.5 percent. The rest forecast no change.
The yield on the 3.75 percent security due in June 2013 was 3.84 percent. The won was at 1,182.5 per dollar.
Malaysia: The government will sell 3.1 billion ringgit ($978 million) of 10-year bonds and 80 million ringgit of 91-day bills today.
The yield on the 3.835 percent bond due in August 2015 was 3.3 percent. The ringgit was at 3.17.
Philippines: Tax Commissioner Kim Henares may comment on government collections last month today. Deputy Treasurer Eduardo Mendiola may comment on government borrowings during an investors’ meeting in Davao City. Central bank Governor Amando Tetangco, Deputy Governor Diwa Guinigundo and other central bank officials may comment on monetary policy and the inflation outlook from Legazpi City, south of Manila, where the authorities will meet.
The yield on the 7.75 percent debt due in February 2020 was 7.27 percent, according to Philippine Dealing & Exchange Corp. The peso was at 45.21 per dollar.
To contact the reporter on this story: Lilian Karunungan in Singapore at lkarunungan@bloomberg.net.
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