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Japan, China, South Korea, India, Taiwan: Asian Bonds and Currency Preview

The following events and economic reports may influence trading in Asia’s bonds and currencies today. Bond yields and exchange rates are from the previous trading session unless stated otherwise.

Japan: Chief Cabinet Secretary Yukio Edano and Finance Minister Yoshihiko Noda will hold media briefings after a Cabinet meeting in the morning. Edano will have another press briefing at 4 p.m. in Tokyo.

The trade ministry may report that Japan’s tertiary industry rose 2.7 percent in April from March, when it dropped 6 percent, according to the median estimate of economists in a Bloomberg News survey. The report is due at 8:50 a.m.

The Bank of Japan will release at 8:50 a.m. its report on the corporate goods price index for May. The index gained 2.5 percent from a year earlier, a separate survey showed.

The yield on the 1.2 percent government bond maturing in June 2021 was at 1.13 percent, according to Japan Bond Trading Co. The yen traded at 80.39 per dollar as of 7:03 a.m. in Tokyo.

South Korea: The central bank will keep its benchmark rate unchanged at 3 percent, according to nine of 17 economists in a Bloomberg News survey, while eight forecast an increase of a quarter of a percentage point.

The won was at 1,082.98.

China: The trade surplus jumped to $19.3 billion in May from $11.4 billion in April, according to the median estimate of economists in a Bloomberg News survey before data due today. The customs bureau report will also show that export growth slowed to 20.4 percent last month from a year earlier, compared with 29.9 percent in April, according to the poll.

China Development Bank will sell 20 billion yuan ($3.1 billion) of 10-year bonds.

The yield on the 3.83 percent bond due March 2021 was 3.83 percent, according to Chinabond, the nation’s biggest debt- clearing house. The yuan was at 6.4759.

India: A government report today will show industrial output grew 5.6 percent in April from a year earlier, after gaining 7.3 percent the previous month, according to the median estimate of economists in a Bloomberg News survey.

The government plans to raise 120 billion rupees ($2.7 billion) selling bonds maturing in 2018, 2021 and 2027.

The yield on the 7.80 percent bond due April 2021 was 8.25 percent. The rupee was at 44.76.

Taiwan: The government will sell NT$100 billion ($3.5 billion) of 364-day debt.

The yield on the 1.375 percent bond due March 2021 was 1.47 percent, according to Gretai Securities Market. The Taiwan dollar was at NT$28.780.

Thailand: The central bank will sell 50 billion baht ($1.6 billion) of 14-day bills and 15 billion baht of floating-rate notes due 2014.

The yield on the 3.125 percent debt due December 2015 was 3.47 percent. The baht was at 30.45 per dollar.

To contact the reporter on this story: Anil Varma in Mumbai at avarma3@bloomberg.net

To contact the editor responsible for this story: Sandy Hendry at shendry@bloomberg.net

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