Bond prices on China's interbank bond market are likely to increase Friday on investors' expectations for monetary loosening. Traders noted that investors tended to anticipate for more monetary loosening policies, as the flash May manufacturing purchasing managers index (PMI) fell short of their expectations.
The HSBC flash manufacturing purchasing managers' index (PMI) for April stood at 49.1 in May, slightly improved from the 48.9 reading in April but still below the 50-point mark that distinguishes expansion from contraction. On Thursday, ChinaBond New Composite Total Return Index, a broadly-based market sentiment indicator, dipped 0.0123 percent to 161.8377 points.
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