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Japan, China, Malaysia, Thailand, South Korea: Asia Bond, 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.
Foreign Minister Katsuya Okada will give a speech at the Foreign Correspondents’ Club of Japan from around 12 p.m. in Tokyo. The Ministry of Finance will announce at 10:30 a.m. in Tokyo the amount of 10-year Japanese government bonds it plans to sell on Sept. 1.
The Finance Ministry will release at 8:50 a.m. in Tokyo its report on the trade balance for July. Japan’s trade surplus narrowed to 466.3 billion yen ($5.5 billion) in July from a revised 686.4 billion yen surplus in June, according to a Bloomberg News survey of economists.
The Bank of Japan will release at 8:50 a.m. in Tokyo its report on corporate service prices for July. The prices which Japanese companies pay for services such as transportation and advertisements fell 1 percent in July from a year earlier, after a 1 percent decline in June, a separate Bloomberg survey showed.
The yield on the 1.1 percent government bond due in June 2020 was 0.91 percent, according to Japan Bond Trading Co., the nation’s largest interdealer debt broker. The yen traded at 84.23 per dollar as of 7:28 a.m. in Tokyo.
China: The finance ministry will sell 28 billion yuan ($4.1 billion) of five-year bonds today.
The yield on the 2.53 percent security due in June 2015 was 2.59 percent. The yuan was at 6.7972.
India: The government will offer 70 billion rupees ($1.5 billion) of 91-day bills and 10 billion rupees of 364-day bills today.
The commerce ministry will publish food inflation data for the week ended Aug. 14 tomorrow. The index of food prices rose 10.35 percent the previous week.
The yield on the 7.8 percent bond due in May 2020 was 8.01 percent. The rupee was at 46.9150.
Malaysia: The central bank will today sell a combined 4 billion ringgit ($1.3 billion) of 91-day Islamic notes as well as 210- and 266-day bills.
The government will auction 3 billion ringgit of benchmark five-year bonds in a re-opening sale on Aug. 26. It last sold 3.5 billion ringgit of the August 2015 notes on April 29 at 3.605 percent.
The yield on the 4.378 percent bond maturing in November 2019 was 3.65 percent, according to Bursa Malaysia. The ringgit was at 3.145.
Philippines: The government will report its trade balance for June today. It had a deficit of $513 million in May.
Gross domestic product probably expanded 6.3 percent from a year earlier in the second quarter, according to a Bloomberg survey before a statistics department report tomorrow.
The central bank will keep its overnight borrowing rate at 4 percent when policy makers meet tomorrow, according to economists in a Bloomberg survey. The rate has remained unchanged since July 2009.
The yield on the 7.25 percent debt due in August 2020 was 7.24 percent, according to the Philippine Dealing & Exchange Corp. The peso was at 45.540.
South Korea: Consumer confidence fell for the first time in five months as global economic risks, a central bank report today showed. The sentiment index was 110 in August, down 112 in July. A number exceeding 100 indicates optimists outnumber pessimists.
The yield on the 3.75 percent security due in June 2013 was 3.57 percent. The won was at 1,196.00.
Thailand: The Bank of Thailand will raise its one-day bond repurchase rate to 1.75 percent when policy makers meet today, according to 11 of 12 economists in a Bloomberg survey. One expects no change from the existing 1.5 percent rate.
The yield on the 3.625 percent debt maturing in May 2015 was 2.72 percent. The baht was at 31.53.
To contact the reporter on this story: Lilian Karunungan in Singapore at lkarunungan@bloomberg.net.
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