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Bonds

Bonds
Bond market action from around the world with a focus on Dim Sum debt and dollar bonds issued by Chinese firms.
Newly elected Makerfield MP and former Greater Manchester mayor Andy Burnham (centre) walks at Manchester Piccadilly station in Manchester on June 22, as he leaves for London. Photo: Reuters
Banking & finance

Macroscope | Can Andy Burnham fix Britain’s essential services and debt problem?

The favourite to become Britain’s next prime minister is the latest figure promoting greater state control of important national assets.

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Banking & finance

Indonesia set to issue US$1 billion in panda bonds in China

Indonesia

Indonesia hails China’s backing for panda bond amid investor concerns over rules

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Banking & finance

The panda bonds: how China uses assets to boost yuan, cement partnerships

Brazil is preparing to issue panda bonds, another indicator of the rising popularity of yuan-denominated assets amid a de-dollarisation trend.

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The world’s 10th largest economy, Brazil, is the latest country to issue panda bonds. Photo: DPA
Banking & finance

Editorial | Hong Kong and Shanghai extend the yuan’s international reach

As Beijing tightens compliance, the country’s finance hubs can safely and efficiently promote the trade of Chinese treasury futures.

Banking & finance

China trims US Treasury holdings to 18-year low

Overall foreign holdings of US Treasuries climbed to US$9.353 trillion in April.

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United States

SpaceX bankers prepare for potential US$20 billion bond offering, sources say

The offering ⁠would mark the first time the rockets-to-AI company has issued investment-grade dollar ‌bonds.

The SpaceX building in Starbase, Texas. Photo: Reuters
Indonesia

Indonesia’s rupiah rebounds but rate rises threaten the middle class

A successful sovereign wealth fund debut and a stock market rally offer a reprieve, even as higher borrowing costs threaten growth.

Banking & finance

China to support trading of treasury bond futures in Hong Kong

Top financial regulator declares support for move promoting yuan internationalisation and the city’s role as a yuan hub.

Yuan

Shanghai to lead ‘financial superpower’ push as China unveils plan to boost yuan

China’s central bank governor speaks at annual financial forum about further opening repurchase facilities and offshore trading to foreign central banks.

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HAIAN, CHINA - MARCH 20, 2024 - A staff member counts Chinese yuan at a bank in Haian, East China’s Jiangsu province, March 20, 2024. (Photo credit should read CFOTO/Future Publishing via Getty Images)
Hong Kong stock market

Chinese metal producer MMG to raise US$1.6 billion selling stocks and bonds

Firm to capitalise on AI-led price spike of critical metals used to create chips, generate electricity and support computing power.

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MMG copper mine in Las Bambas, Peru. The Chinese metal producing firm hopes to raise a combined US$1.6 billion selling placement shares and convertible bonds to fund its business expansion. Photo: MMG
Banking & finance

Mainland China set to issue US$2.2b of sovereign bonds in Hong Kong next week

The offering is expected to be popular with central banks and sovereign funds seeking to diversify away from US dollar assets.

Banking & finance

Tencent, Swire boost Hong Kong debt market with US$5.2b multi-currency deals

Investor appetite for Hong Kong debt is growing, with the offerings reinforcing the city’s role as a global bond hub.

Banking & finance

Beijing expects Hong Kong to press advantage as offshore yuan hub

Officials pledge ‘unswerving’ support for Hong Kong’s development as a financial centre while urging city to promote global yuan use.

Hong Kong was the largest offshore yuan market as of December, with 74.6 per cent of payments. Photo: DPA
Banking & finance

Hong Kong taps group of experts to help rewrite rules for tokenised bonds

HKMA sets up the collective, spanning 21 institutions, in push to expand blockchain-based issuance beyond government pilots.

The Hong Kong Monetary Authority (HKMA) logo in IFC Two. Photo: Jonathan Wong
Banking & finance

China sees revival of foreign investors through IPOs, convertibles: UBS

The trend is part of a broader recovery of interest in Chinese assets from investors overseas.

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Banking & finance

Macroscope | Why bond yields are going up everywhere

Unlike stock markets, bond markets are signalling a more cognisant and mature appreciation of the state of government finances.

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Chinese offshore investment

Going global? Here’s a quick look at 4 options for China’s offshore investors

As Beijing tightens its grip on unlicensed stock platforms, mainland China’s retail players utilise these state-sanctioned options to diversify globally.

Mainland China’s retail investors have four primary legal avenues to diversify their portfolios overseas. Photo: Shutterstock
Mainland China

China’s first green bond sale in Hong Kong aims to raise US$886 million

Country looking to issue offshore sovereign green bonds and tap global capital to invest in green development.

Banking & finance

Macroscope | Can Europe and Asia break the grip of US bond markets?

Too much money is chasing too few investment opportunities. Unified bond markets in Europe and Asia could offer safe options for savings to flow into.

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War and conflict

Opinion | Not even a quick end to Iran war can save AI stock bubble now

Rising prices are draining the liquidity from financial markets, including bonds. The AI stock bubble is ripe for bursting.

Vessels at anchor in the Strait of Hormuz off Bandar Abbas in southern Iran on May 4. Photo: ISNA/AFP
Stocks

Macroscope | Bond market sell-off raises stakes for Asia’s tech-driven economies

Stakes are high for Asia’s tech-driven economies amid a global sell-off in bond markets that signals investor fears.

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A currency trader talks on the phone near a screen showing the Korea Composite Stock Price Index and the foreign exchange rate between the US dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul on May 20. Photo: AP
Yuan

Editorial | Why China’s yuan is gaining appeal

More countries find yuan financing attractive. Even without full convertibility, the Chinese currency offers something invaluable.

Hong Kong economy

Hung Shui Kiu industrial park operator eyes bond issuance, tax cuts for firms

Incoming chairman Jeffrey Lam outlines park’s financing and offerings, says operator will first rely on government’s HK$10 billion injection.

Yuan

How Australia’s mining giants are helping China to globalise the yuan

Mining firms are increasingly using the yuan for financing and settlements, as China pushes to reduce its reliance on the US dollar.

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Cranes unload bauxite ore imported from Australia at a port in China’s eastern Shandong province. Photo: Reuters
China trade

Pakistan to tap China debt market with first sale of yuan-priced ‘panda bonds’

Islamabad turns to ‘panda bonds’ to secure cheaper credit and diversify its borrowing into yuan-denominated funding, with a focus on sustainable development.

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Pakistan and China continue to forge stronger economic ties. Here, a family rides past a roadside display in the shape of their national flags in Lahore, Pakistan, ahead of a visit by Vice-Premier He Lifeng in 2023 to mark the 10th anniversary of a mega economic plan. Photo: AFP
China property

China’s bond market faces climbing re-defaults as property crisis drags on

Re-defaults erode credit differentiation as homebuyer confidence weakens under slow income growth and high leverage, analysts warn.

Banking & finance

Hong Kong secures US$3.5 billion to fund Northern Metropolis and green projects

Global investors pile into city’s latest bond sale, with orders 7.6 times oversubscribed, backing its green finance ambitions.

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