Bond prices on China's interbank bond market are likely to correct Thursday, with the central bank's open market operation in focus.
The People's Bank of China, China's central bank, gauged banks' demand for reverse repos, repos and bills on Wednesday morning. The central bank scaled up its reverse repos offering on Tuesday in a bid to ease liquidity tension caused by yuan's sharp depreciation and massive capital outflows, said traders, adding that investors are keeping a close watch on Thursday's open market operations, hoping to detect more trading tips.
On Wednesday, ChinaBond New Composite Total Return Index, a broadly-based market sentiment indicator, edged up 0.0445 percent to close at 169.679 points.
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