China's stock exchange-traded T-bonds ended up Tuesday after the central bank further cut 7-day reverse repo rate. The Government Bond Index on the Shanghai Stock Exchange (SSE) closed up 0.03 percent at 148.18 points, and turnover slumped 31.93 percent to 121.85 million yuan
. The People's Bank of China (PBOC), China's central bank, offered 20 billion yuan worth of 7-day reverse repos in Tuesday's open market operations, with the yield down 10 basis points (bp) to 3.45 percent Trader noted that the move showed the central bank's intention to keep liquidity environment stable, as a string of factors including the intensive IPOs and seasonal factors in April were likely to erode liquidity in the near future.
SSE Corporate Bond Index ended up 0.03 percent at 184.45 points Tuesday. Turnover withered 0.49 percent to 905.53 million yuan. SSE-quoted convertibles diverged on Tuesday with 5 advancers, 6 decliners and 1 flat. Shanghai Composite Index gained 2.52 percent to close at 3,961.38 points on the same day.
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