Bond prices on China's interbank bond market are likely to increase Friday after the central bank's continuous reverse repo sales.
The People's Bank of China, China's central bank, conducted 35 billion yuan worth of 7-day reverse repos at a yield of 2.50 percent in Thursday's open market operation. Traders noted that as the adverse effect caused by the seasonal factors has gradually faded away, the central bank's continuous reverse repo offerings is conductive to stabilizing market sentiment, which might further shore up bond prices.
On Thursday, ChinaBond New Composite Total Return Index, a broadly-based market sentiment indicator, slid 0.0131 percent of gains to close at 161.9342 points.
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