Bond prices on China's interbank bond market are likely to increase Wednesday after the central bank's continuous reverse repo sales.
The People's Bank of China, China's central bank, conducted on Tuesday 50 billion yuan worth of 7-day reverse repos at a yield of 2.50 percent via its open market operation. Traders noted that the central bank's continuous reverse repo offerings are conductive to stabilizing market sentiment and keeping liquidity environment stable, which would further beef up the bond market.
On Tuesday, ChinaBond New Composite Total Return Index, a broadly-based market sentiment indicator, added 0.2417 percent to 162.8408 points.
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