TOPIC

Bonds

The MPF’s average account balance for its 4.75 million members was now worth more than a brand-new Tesla Model 3 or a Hermes Birkin handbag. Photo: Xiaomei Chen

Hong Kong’s MPF makes US$19 billion in first 9 months fuelled by market rally

Fuelled by interest rate cuts and China’s stimulus measures, the market rally took MPF’s total assets to a record HK$1.327 trillion.

Fuelled by interest rate cuts and China’s stimulus measures, the market rally took MPF’s total assets to a record HK$1.327 trillion

videocam

China’s fiscal package needs to be sizeable to maintain momentum: economist

videocam

Hong Kong’s latest Silver Bond sale starts strong

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

The de facto central bank will work with mainland authorities to develop the Greater Bay Area and expand cross-border trading, CEO Eddie Yue says.

HKMA CEO Eddie Yue starts his second five-year term on Tuesday. Photo: Jonathan Wong

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

Analysts suggest China could sell at least 1 trillion yuan (US$142 billion) of special treasury bonds and lift its budget deficit ratio.

videocam
9

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.

Advertisement
Advertisement

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.

A view of Hong Kong’s High Court in Admiralty. Photo: Warton Li

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.

videocam

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.

8

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.

Tourists at the Ruins of St. Paul, one of the iconic tourist attractions in Macau, on 3 July 2024. Photo: Elson Li.

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.

Chinese state banks had been using foreign-exchange obtained in the swaps market to support the yuan in spot trading. Photo: Shutterstock

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.

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.

videocam
4

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.

A view of Almaty in Kazakhstan on October 10, 2023. Photo: Xinhua

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.

Issuance of so-called dim sum bonds exceeded 465 billion yuan (US$65 billion) in the first half of 2024. Photo: Bloomberg

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.

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.

Advertisement
Advertisement

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.

videocam
Chinese developer Country Garden’s financial woes show no signs of ending. Photo: Reuters

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.

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.

13

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.

An Urban Renewal Authority redevelopment project in To Kwa Wan, pictured on August 9, 2024, is expected to provide about 230 flats. Photo: Jonathan Wong

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.

videocam
Unfinished residential buildings developed by China Evergrande Group in the outskirts of Shijiazhuang, Hebei province, on February 1. Persistent crises in the property sector and weak consumer demand are challenging China’s policymakers. Photo: Reuters

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.

11

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.

8

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.

The Exchange Square in Hong Kong. Photo: Xiaomei Chen.

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 10-year government bond yield dipped below 2.1 per cent this month before PBOC intervention sent it back up to 2.25. Photo: Reuters

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

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.

Advertisement
Advertisement
Help preserve 120 years of quality journalism.
SUPPORT NOW
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
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement