Japan, China, Singapore, Thailand, Taiwan: Asian Bonds, Currency Preview
Sept. 6 (Bloomberg) -- Naomi Fink, a Japan strategist at Bank of Tokyo-Mitsubishi UFJ, talks about the outlook for Japan's economy including the yen and monetary policy. She speaks with Maryam Nemazee on Bloomberg Television's "Countdown." (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 and Finance Minister Yoshihiko Noda will hold media briefings after a Cabinet meeting in the morning. Sengoku will have another press briefing at 4 p.m. in Tokyo.
The Bank of Japan will conclude a two-day policy board meeting in Tokyo. Governor Masaaki Shirakawa will hold a media briefing at 3:30 p.m. in Tokyo.
The Ministry of Finance will announce at 10:30 a.m. in Tokyo the amount of 20-year Japanese government bonds it plans to sell on Sept. 14.
The Finance Ministry will release at 8:50 a.m. in Tokyo its report on Japan’s official reserve assets for August.
The Cabinet Office will release at 2 p.m. in Tokyo its coincident and leading economic indexes for July. Japan’s coincident index, a composite of 11 indicators including factory production and retail sales, rose to 101.8 in July from 101.3 in June, according to a Bloomberg News survey of economists.
The yield on the 1 percent government bond due September 2020 was 1.185 percent, according to Japan Bond Trading Co., the nation’s largest interdealer debt broker.
The yen traded at 84.16 per dollar at 7:29 a.m. in Tokyo.
China: The People’s Bank of China will sell 56 billion yuan ($8.3 billion) of one-year bills today, the central bank said in a statement posted on its website yesterday. That would be the biggest amount since April.
The yield on the 2.52 percent note due in July 2015 was 2.61 percent. The yuan was at 6.7874.
Philippines: The National Statistics Office will say that annual inflation held at 3.9 percent in August, according to a Bloomberg survey.
The yield on the 7.25 percent debt due in August 2020 was 6.54 percent, according to Philippine Dealing & Exchange Corp. The peso was at 44.378 per dollar.
Singapore: The government will release its fourth quarter manpower survey. Separately, the central bank will announce foreign reserves for August. The reserves stood at $206.9 billion in July.
The yield on the 3.25 percent debt due in September 2020 was 2.14 percent. The Singapore dollar was at S$1.3454.
Taiwan: Overseas shipments rose 25 percent in August from a year earlier after gaining 38.5 percent the previous month, according to the median estimate of economists in a Bloomberg News survey before data to be released today by the Ministry of Finance. Imports gained 28.5 percent after a 42.7 percent increase in July, and the trade surplus widened to $2.20 billion from $2.16 billion, according to separate surveys.
The yield on the 1.25 percent bond maturing in September 2020 was 1.234 percent. The Taiwan dollar was at NT$31.948.
Thailand: The central bank will sell a combined 49 billion baht ($1.6 billion) of 28-, 91- and 182-day bills. The yield on the 3.625 percent note maturing in May 2015 was 2.71 percent. The baht was at 31.15.
To contact the reporter on this story: Andrea Wong in Hong Kong at awong268@bloomberg.net
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