Asia Bond Monitor
The size of emerging East Asia’s local currency bond markets reached USD15.2 trillion at the end of September, according to the latest issue of the Asia Bond Monitor. The report also noted that the protracted trade dispute between the People’s Republic of China (PRC) and the United States and a sharper-than-expected economic slowdown in advanced economies and the PRC pose as the biggest downside risks to the region’s financial stability.
ASEAN+3 Multi-Currency Bond Issuance Framework
Bond Issuance
| No. | Issuer | Sector | Currency and Amount | Tenure | Issuance Date |
|---|---|---|---|---|---|
| 1 | Mizuho Bank, Ltd. | Financials (Banking) | THB3 billion | 3 years | 28 Sep 2015 |
| 2 | Hattha Kaksekar Limited. | Financials (Consumer Finance) | KHR120 billion | 3 years | 14 Nov 2018 |
| 3 | AEON Credit Services (Philippines) Inc.* | Financials (Consumer Finance) | PHP900 million PHP100 million |
3 years 5 years |
16 Nov 2018 16 Nov 2018 |
| 4 | CJ Logistics Asia Pte. Ltd*. | Logistics | SGD 70 million | 5 years | 26 Mar 2019 |
| 5 | Nexus International School (Singapore) Pte. Ltd. | Education | SGD 150 million | 12 years | 3 Dec 2019 |
| KHR = Cambodian Riel, PHP = Philippine peso; THB = Thai baht; SGD = Singapore dollar
* Guaranteed by the Credit Guarantee and Investment Facility. Source: Asian Development Bank. |
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Good Practices For Developing a Local Currency Bond Market: Lessons from ASEAN+3 Asian Bond Markets Initiative
This report shares the experiences of ASEAN+3 and provides a comprehensive picture on fostering a local currency bond market. Although every market is unique, some lessons from the region's varied experiences could still be drawn on how to expedite the process of bond market development in a developing economy.
ASEAN+3: Asian Bond Markets Initiative Medium-Term Road Map, 2019–2022
May 2019
Weekly Debt Highlights
The Republic of Korea’s gross domestic product grew 0.4% quarter-on-quarter (q-o-q) in the third quarter (Q3) of 2019, down from the 1.0% q-o-q growth posted in the second quarter (Q2). On an annual basis, the Republic of Korea’s economy grew 2.0% year-on-year (y-o-y) in Q3 2019. Prices of basic goods and services in the Republic of Korea rose 0.2% y-o-y in November after remaining unchanged in October. Prices of basic goods and services in the Philippines increased 1.3% y-o-y in November, accelerating from the 0.8% y-o-y gain recorded in October. Thailand’s consumer price inflation quickened slighlty to 0.2% y-o-y in November from 0.1% y-o-y in October, driven by subdued deflationary pressure from oil prices.
Data Highlights of the Month
Market Watch
Research
Bond Pricing Data
China, People's Republic of
Source: China Central Depository & Clearing Co., Ltd. (CCDC)
Indonesia
Source: Indonesia Bond Pricing Agency
Malaysia
Source: Bond Pricing Agency Malaysia
Philippines
Source: Philippine Dealing & Exchange Corp.
Thailand
Source: Thai Bond Market Association
- Corporate Securities - Corporate Securities Board Summary
- Government Bond Yield Curve
- Corporate Bond Yield Curve
ASEAN+3 Region
Source: Bond Pricing Agency Malaysia, Indonesia Bond Pricing Agency, and Thai Bond Market Association
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