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Bonds

Elderly residents rest in a park in Cheung Sha Wan, Hong Kong on August 16, 2023. Photo: Jelly Tse

Hong Kong’s latest Silver Bond sale starts strong

As interest rates have begun to fall, the guaranteed 4 per cent yield of the US$6.4 billion in bonds looks better by comparison.

As interest rates have begun to fall, the guaranteed 4 per cent yield of the US$6.4 billion in bonds looks better by comparison

HKMA wants to continue developing Greater Bay Area, expand connect schemes

China’s all-out action plan could gather pace with fiscal loosening: analysts

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China’s NDRC urges firms to use Hong Kong for financing needs

Hong Kong seen as a top financing platform for the mainland’s ‘attracting foreign investment’ and ‘going global’ strategy, an NDRC official says.

General view of Hong Kong from HKMA headquarters at IFC, Central. Photo: May Tse

China’s Sino-Ocean gets liquidation reprieve amid ‘some progress’ on debt

Hong Kong court adjourns hearing until December 23 as developer plans parallel restructuring efforts in the city and the UK.

Explainer | China’s 100-billion-yuan question: does government bond purchase shift policy?

Speculation is rife on what a US$14 billion treasury bond buy means for China’s money-supply mechanism, and whether the rare move equates to quantitative easing.

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Hong Kong banks trim prime rates halfway after Fed’s bold slash

For a typical HK$5 million, 30-year loan priced at prime minus 1.75 per cent, a quarter-point cut in prime rates will save mortgage borrowers HK$720 per month.

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Pedestrians in Hong Kong’s Sham Shui Po neighbourhood on 11 August 2024. Photo: Dickson Lee

Hong Kong, Macau to link bond markets to foster debt finance growth

The Hong Kong Monetary Authority (HKMA) will link its Central Moneymarkets Unit (CMU) to Macau Central Securities Depository and Clearing.

China’s stealthy yuan support ebbs, denting hot hedge fund trade

A lucrative trade that helped hedge funds ratchet up profits on Chinese debt instruments is starting to lose its charm, analysts say.

Hong Kong HK$50 billion Silver Bonds issue a ‘win-win investment’: Paul Chan

Financial Secretary Paul Chan says bonds will offer elderly residents a safe and reliable place to park their money.

Silver Bonds are an investment option for Hong Kong residents aged 60 and above. Photo: Eugene Lee

Macroscope | Bond boom a sign of reality catching up with bubbly stock markets

The recent skittishness of equities is undermining global investors’ confidence and driving them to seek safety in bonds.

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Visitors take photos in front of the Cloud Gate sculpture, known as the Bean, at Millennium Park in Chicago on August 15. The city of Chicago is delaying its US$643 million bond sale that was expected to price last week amid volatility in the US$4 trillion market for state and local bonds. Photo: Bloomberg

Kazakh giant eyes Hong Kong’s dim sum bonds to fund cable project

The company’s telecoms unit Freedom Telecom plans to spend 107 billion tenge (US$236 million) until the end of 2027 on two projects in Kazakhstan.

Investors eat up dim sum bonds from Guangdong province, Hong Kong’s MTR

Issuance of offshore yuan-denominated bonds has jumped 28 per cent this year, according to the Hong Kong Monetary Authority.

Hong Kong sells ‘Silver Bonds’ at 4% coupon before interest rate cut

Bonds will support long-term infrastructure projects ‘for the good of the economy and people’s livelihood’, says financial secretary.

People rest in a park in Cheung Sha Wan on May 29, 2024. Photo: Jelly Tse

Financial secretary pledges more financial connections with mainland

Minister hinted at the launches of more links that will better connect Hong Kong markets with those on the mainland.

Financial Secretary Paul Chan spoke to a forum in Shanghai on Thursday. Photo: Bund Summit

Struggling Country Garden again seeks to extend bond repayments

The Foshan-based developer said that it plans to postpone for six months the coupon and principal instalment payments on nine notes due this month.

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HSBC to issue US$2.5 billion in convertible securities before Fed rate decision

HSBC said it would issue a total of US$2.5 billion in convertible securities, adding to a global flurry of investment-grade bond issuance.

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Why China’s 220 million retail investors are shying away from the stock market

Chinese investors shun stocks amid economic uncertainty, preferring bonds, ETFs and luxury homes. Optimism is low despite government efforts to boost market confidence.

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Illustration by Brian Wang

Buyers snap up US$1.54 billion in Hong Kong Urban Renewal Authority bonds

The senior bond offering was two times oversubscribed, with banks, asset managers, insurance companies and central banks among the buyers.

Macroscope | China’s overheated government bond market is the least of its worries

Concerns about the sovereign debt market shouldn’t be related to threats to financial stability but the risk of a more severe economic downturn.

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China’s stock turnover hits 4-year low as traders await stimulus

The slump in turnover mirrors subsiding interest in onshore stocks, as traders remain unimpressed by cuts to the policy loan rate and the loan prime rate following a Politburo meeting last month.

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An electronic ticker displays stock data in Shanghai. Turnover on China’s exchanges have fallen amid investor apathy. Photo: Bloomberg

China’s mixed July economic activity puts Beijing’s stimulus stance in spotlight

While retail sales inched up in July, property investment in China worsened slightly while urban unemployment rose and fixed-asset-investment growth slowed.

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China’s retail sales, a key gauge of consumption, rose by 2.7 per cent in July, year on year. Photo: Bloomberg

Investors vie for China’s ‘dim sum’ bonds as appetite grows for yuan debt

The uptake augurs well for the finance ministry, which has announced its plan to sell six batches of bonds to raise 55 billion yuan this year in Hong Kong.

Explainer | Why China’s risky bond rally has put PBOC on the offensive

The 10-year government bond yield tanked to a record low as wary investors and financial institutions snatched them up at an unprecedented rate, desperate for safe-haven investments.

China’s outbound investing demand spurs fund managers to get creative amid quota squeeze

Soaring demand from Chinese investors for offshore investments has left foreign banks and fund managers scrambling to ration outbound-investing quotas

An electronic ticker displays stock figures in Shanghai on Wednesday, August 7. Photo: Bloomberg

As bond rally takes toll, China names and shames state-backed rural banks

The central bank is seen trying to counteract forces suppressing Chinese bond yields. But in the absence of monetary tightening, a ‘short-term pause’ to the rally may be the best outcome.

An affiliate of the People’s Bank of China (pictured) has announced a self-disciplinary investigation into four rural commercial banks. Photo: Bloomberg

Asian bond market in ‘sweet spot of credit cycle’, AllianzGI says

Bond offerings by Chinese utilities and Macau gaming companies are particularly attractive because of their low default rates and reasonable yields, according to a report by Allianz Global Investors.

A steady hand in rough Hong Kong monetary waters

Eddie Yue Wai-man’s reappointment for a second five-year term as head of the Hong Kong Monetary Authority is good news. Yue has amply proved himself over the past five difficult years. The next five years will be just as challenging, if not more so.

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Bonds
Bond market action from around the world with a focus on Dim Sum debt and dollar bonds issued by Chinese firms.
last updated:
9 September, 2024
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