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Banks extend gains, boost flagship index

(ATF) Banks boosted the flagship China Bond 50 index on Thursday, extending yesterday’s gains and posting the largest increases of the day. The CB50 gauge rose 0.01%, along with the ATF ALLINDEX Financial, Enterprise, and Local Governments. These climbed 0.02% and 0.01% respectively. Only the ATF ALLINDEX Corporates closed down, losing 0.01%.

Within the China Bond 50, increases were seen in the price of the bonds of China Merchants Bank (0.13% for a yield drop of 1.89%), Xiamen International Bank (0.16% for a yield drop of 3.91%), Huishang Bank (0.08% for a yield drop of 0.76%), China Zheshang Bank (0.03% for a yield drop of 0.22%), and China Citic Bank (0.03% for a yield drop of 0.22%).

Only China Development Bank and the Export-Import Bank of China recorded losses in the flagship index, falling 0.04% and 0.19% respectively  for yield rises of 0.26% and 0.98%.

The gains in China Merchants Bank and Xiamen International also boosted the ATF ALLINDEX Financial gauge, along with China Great Wall Asset Management, whose bonds rose 0.12% for a yield decline of 2.15%. The only losses of the index were those of Jinshang Bank bonds, whose price fell 0.19%. Their yield climbed 2.17%.

Sinking 0.74%, Henan Investment Water bonds posted the biggest loss of the day, dragging down the ATF ALLINDEX Corporates. Their yield increased 5.55%. The only other movement in the index was that of Jizhong Energy Group, whose bonds inched up 0.02%, for a yield rise of 0.01%.

Finally, the ATF ALLINDEX Local Government recorded no significant moves.

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